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Office Insight

United States | New York, NY

Report | New York Office Insight - Q2 2017

Summary

​Asking rents were mostly flat across New York City, but the average drifted higher in Q2 as newer and higher-quality space came to market. Midtown saw a number of the quarter's high-profile transactions as the pendulum swung from Downtown.

Demand for new construction and strength from the tech sector is expected to continue to drive the market going forward. We anticipate a number of major leases to close at Hudson Yards and elsewhere by year's end.

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