Manhattan office records booming

Manhattan office records booming
15/10/2016 , by , in INTERNATIONAL

The cost of renting office space in Manhattan set new records in the third quarter amid strong leasing activity that was driven by a job creation rate in New York that exceeds the nationwide average, according to brokerage Colliers International.

Leasing activity across Manhattan is 13.8% above the city’s 10-year average, and year-to-date is 11.1% better than 2015, a banner year for commercial real estate in New York, the brokerage said on Thursday.

New York has created 89,000 new private sector jobs in the 12 months ended August, a 2.4 percent increase that tops the U.S. job gains rate of 1.9 percent, Colliers said.

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