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Manhattan Business Leasing Shows Sign of Market Confidence

August 1, 2013 / usifredo


Manhattan businesses signed leases for larger and new space during the first half of 2013, highlighting a boost in investor confidence.

Manhattan, real estate, business, leasing, market confidence, usif, us immigration fund

New York City’s largest tenants are showing confidence in the Manhattan market in a big way, according to recent reports from CoStar Group Inc. Seven out of Manhattan’s 10 largest commercial leases signed in the first half of 2013 involved companies taking new space or adding to already existing space.

During the same period in 2012, only four of the top 10 real estate deals in Manhattan fell into this qualification. Six were simply renewals.

Matthew Van Buren, president of CBRE Group Inc.’s New York tri-state region, explained, “There’s a real sign of health again, especially in the financial services, legal and media industries which are a very large part of Manhattan occupancies. I do see the number and size of the deals as a sign of health in the underlying businesses and also see that as a harbinger of a good market.”

Even with these acknowledgements of growth and health in the financial, legal and media markets, the largest contract signed was Macy’s renewal of its 647,000 square feet of space at 11 Penn Plaza, which is where the retailer’s merchandising group is housed.

Technology and media companies definitely had the strongest showing in the market though, taking up 18 spots on the list of the top 50 contracts. Yahoo Inc. signed the biggest for their industry, moving into a new 176,000 square-foot office on 43rd Street. Other large firms included Facebook Inc. and Condé Nast Publications Inc.

This rise in business confidence in the Manhattan market will spur an increase in interest in the residential side, as employees and future investors will move to where the jobs are.

As U.S. Immigration Fund continues to see progress on the construction of its Manhattan projects, Bryant Park, The Charles and 855 Avenue of the Americas, it remains confident in their success. Thanks to the surrounding confidence, these projects will undoubtedly propel business as well as real estate interest.


据CoStar Group集团最新报告,纽约租户对曼哈顿商业办公租赁市场信心强烈。曼哈顿10个最大的商租板块就有7个在今年上半年签约。签约的既有新建的商业办公区也有原建筑翻新。

去年同期,排名前十的曼哈顿地产交易中,仅有4个,且其余6个均仅为续约。

全球顶级物业管理服务商CBRE集团总裁Matthew Van Buren先生解释说:“这是经济健康发展的有效标志,尤其是在金融、法律及传媒业。它们也是曼哈顿商租比例很大的市场。成交量及成交规模都呈增长态势,这些都是商业健康发展的特征,预示市场前景良好。”

但尽管金融、法律及传媒业市场增长及发展平稳,但今年商租成交最大的单子还是梅西百货的续约。梅西续签了位于佩恩广场(Penn Plaza)占地64.7万平方英尺的商用区域。这里也是零售最大集中地。

科技和传媒公司市场增长也异常强劲。排名前50的商租签约单中,科技和传媒公司就占了18个。科技公司中以雅虎为代表,签约最大。雅虎将其公司搬到了第43街的新办公楼,占地17.6万平方英尺。其他大公司也包括了Facebook、康泰纳仕出版集团。

曼哈顿商租市场迅速发展也会推动住宅市场发展。上班阶层及投资者都将会陆续跟随过来。

美国移民基金将继续期待旗下曼哈顿地产项目的施工进展。布莱恩公园、查尔斯平层别墅项目、855美国大道白金公寓项目及其他项目等市场前景看好。目前市场信心普遍强烈,这些项目无疑将推动商业及住宅市场增长。

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