You are here

NY office concessions increase, signalling market strength: analysts

Data from Colliers International shows a 17% surge so far this year in landlord allowances for tenants to furnish and build out an office.
Saturday, July 15, 2017 - 05:50

BT_20170715_NYOFFICE15_2983883.jpg
Record-low unemployment in Manhattan and population growth throughout New York City, which has reversed a decades-old decline, are driving the real estate market.

PROPERTY landlords have roughly doubled the concessions they grant in New York office leases over the past decade, a sign analysts say is one of strength, not weakness, as tenants demand swankier workplaces to attract and retain employees.

Data from brokerage Colliers International shows

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom