It seems only a matter of time before the current economic conditions affect Manhattan and outer borough apartment rental market. The article How Many Apartments Are too Many? discusses the current state of the Manhattan apartment market. Reports about the outer borough apartment market are sketchier. However, based upon my discussions with outer borough landlords it appears as if the outer borough apartment market is holding up better than the Manhattan apartment market.
People often ask, "What is the rental rate for my office or store space?" In today's market, it is an exceedingly difficult question to answer. The article Asking Rent Agonistes further describes this problem.
The Garment Center as the focal point for the garment trade has been dying for several decades now. Its demise has been postponed by zoning that attempts to preserve manufacturing space. It appears, however, that the garment center is soon to be removed from life support. See the article Union, City Sew Tentative Deal on Garment Center Future.
Giant and Jets fans! Have any of you wondered when that horrible monstrosity that is being constructed next to the Meadowlands will be completed? Construction has been going on for years and has been incredibly disruptive to traffic and parking. For those of you who are curious, check out the article Meadowlands Xanadu in New Jersey.
Finally, what will happen to all those bank branches that sprouted up all over the city during the past 10 years? Their possible fate is described in the article It's a WashMu!
Thursday, December 18, 2008
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