This site uses web cookies · Read our Policy here
International: (+34) 952 198 657
Open navigation menu

Demand for Manhattan Offices Increasing

First name: 


Last name: 


Tel. Number: 

IPIN Disclaimer.

  We never share your data with any third parties.

*Note: IPIN investment opportunities are available subject
to location and certain knowledge / experience criteria.

News by Category


Reuters  Jones Lang LaSalle  New York  Scott Latham  Marc Holliday  New York Capital Markets Group  Manhattan Office Property 

Demand for Manhattan Offices Increasing

By - Wednesday 22 June 2011

Financial institutions that moved away from Manhattan during the credit crisis are beginning to return to the New York borough.

This is the assertion of Scott Latham, vice-chairman of Jones Lang LaSalle's New York Capital Markets Group, who was speaking at the Reuters Global Real Estate and Infrastructure Summit.

He explained to the news provider that as profits began to rise, the banks looked to return to offices in Manhattan with an eye on future growth.

Statistics from Jones Lang LaSalle show that financial institutions make up 25 per cent of the occupants in the borough's offices, a return to 2007 levels after seeing this proportion drop to 20 per cent in 2009.

"It's naive to think that as a corporation you can move to another locale, save money on your rent and nothing else will be impacted," Mr Latham stated.

He added that credit from such companies is now even more attractive to landlords and property investors because it is supported by the government.

Meanwhile, the media sector is also becoming an important occupier of Manhattan office space, with chief executive of SL Green Realty Marc Holliday telling Reuters the industry "is doing extremely well on a relative basis".

Subscribe to IPIN Live by Email - Get our News & Blog updates delivered directly to your inbox - click here



*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.

«« Back to IPIN Live

Follow IPIN Global

Latest Content

Recent Comments

Powered by Disqus