N.Y.C. Office Market May Slow ; Rental Prices, Sales Expected to Ease a Bit

Summary

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Manhattan's office market, the country's most expensive and desirable, is bracing for a downturn. However, some real estate analysts say the slump may not be as bad as predicted.

In a recent report entitled "Downturn - What Downturn?" commercial brokerage firm Colliers ABR says that even if Manhattan's red-hot office market takes a hit, it will do so from a height other markets will never attain.

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Extract

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N.Y.C. Office Market May Slow ; Rental Prices, Sales Expected to Ease a Bit

Robert Sammons, Colliers' research director, predicts there will be a drop in sales and rental prices in Manhattan, but nowhere near the 15 percent drop some analysts said will slam the national commercial real estate market.

Lingering investor fears...

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