Quote:
Originally Posted by sbarn
No, actually it was a very informative post. Why the WSJ citing a 13 story building in the village as an example of some sort of office property bubble is beyond me.  |
Thanks, sbarn.
In the fall of last year Stephen Ross CEO of Related, said he was speaking with 8 companies who all were looking at at least 1M sf of space, plus the companies on the list below (thanks to RW for posting it in HY thread), and add to that list the Milbanks and other firms who haven't been as public with their hunt for new space, and barring an economic catastrophe, there is plenty of demand to go around.
Regurgitating what someone else wrote without putting any thought into the validity of the original point isn't something I'd recommend. But regardless of how well anyone on this board thinks we may understand, in this case New York's commercial real estate market, I guarantee you the cities developers, Related, Brookfield, Silverstein, Vornado, etc, all know it much better than anyone here. So the fact that these firms are still bullish on commercial real estate in the city, like Brookfield building the platform for MW despite not having a single tenant, Related not far behind building a platform for the bigger north tower, and the fact that 51 Astor is being built with no tenants, I think is a much more accurate indicator than a pretty narrowly focused article written in WSJ which conveniently ignores a lot of relevant information. But I digress.
Source.