Salient to Investors:
Michael Mandel at CompStak said the financial industry, the traditional driver of New York City office rents, is giving way to technology, media and advertising firms, who tend to steer clear of midtown Manhattan’s skyscrapers, preferring the older, low-rise buildings of midtown south, the area roughly between 34th and Canal streets.
Read the full article at http://www.bloomberg.com/news/2012-11-06/manhhattan-top-tier-office-rents-drop-most-in-three-years.html