Manhattan office rents expected to rise in 2018: Cushman

New York

THE largest amount of new construction to hit Manhattan since the 1980s will lift asking rents this year for office space in New York as demand likely continues to grow faster than the US average, executives from Cushman & Wakefield said on Wednesday.

"(New York) is still a magnate for corporations from around the world and that will allow New York to continue to grow even if job growth slows elsewhere in the country," said Ken McCarthy, principal economist at the real estate services company in a media webcast.