Office leasing activity in Manhattan remains strong but tell-tale signs – such as rising landlord concessions and companies that renew contracts rather than take new space – indicate a market in correction. The Manhattan office market provides a snapshot into the economic health of New York and offers an indication of future business activity. The commercial real estate market in the second quarter picked up after capital market turmoil in the first quarter curbed activity, with June’s 2.9 million square feet of space marking the highest monthly volume of space leased in the past 12 months.
Read more: Economic Times
