Report | Manhattan Monthly Market Update February 2013
The overall Midtown market remained flat again in February, with Penn Plaza Class A a continued bright spot. Midtown South remained stable in February, though high rents continued to spur the movement of tenants into value space in other submarkets, while Downtown continued to reap the benefits of Midtown South’s increasing costs. Despite uncertainty in the market, several new development projects in New York City are underway.
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