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JANUARY 22, 2007

THRIFTY TENANTS GO TO SIDE STREETS

- Crain's New York Business


Leasing activity in side street buildings in Manhattan has hit a frenzied pitch as tenants priced out of towers Ion the average search for comparatively affordable alternatives. The trend is another illustration of how tenants are scrambling in reaction to the red-hot commercial real estate market.

Law firm Graubard & Nihamin recently moved out of 250 Park Avenue South at East 20th Street, while construction subcontractor Granite Construction Northeast has vacated 1350 Broadway at West 36th Street.

 

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