NEW YORK— More Manhattan real estate could be available by this summer, according to market research firm TenantWise.com. In a recent report on crainsny.com, the availability rate of Manhattan real estate could be as high as 20% by this summer. The increase is expected despite the destruction of 13.4 million square feet of real estate in the terrorists attacks. As of last month, the rate had reached 15.3%. The firm attributes the increase to the fact that companies are choosing to leave downtown despite having to pay more in areas like midtown and New Jersey, as they factors such as security, transportation, environmental safety and contingency planning. SOURCE: crainsny.com
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