New York Office market sucks wind, the rest of tge economy to follow...
At least that is the opinion of a post on Zerohedge today. They also state that 666 Fifth is 50% vacant - is that right? I can't recall, but that seems high. Regardless, they do continue to lose tenants.
It depends on how you classify "vacant"; it may be 65 or 70 percent 'leased' with rent being paid on that much space, but of that 65 or 70 percent, 15 or 20 percent is not occupied and will not be renewed when leases roll..
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No, it's "only" a third vacant. However, the debt was already modified and the new GP has deep pockets so they can insist on getting premium rents.
It depends on how you classify "vacant"; it may be 65 or 70 percent 'leased' with rent being paid on that much space, but of that 65 or 70 percent, 15 or 20 percent is not occupied and will not be renewed when leases roll..
Straight from the rent roll: 18% vacant, including Citi's economic occupancy. There's a lease pending for 3% of the vacant space
Oops mistated that ... there's a lease pending for 3% of total space
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