News
RIGUARDI REAL ESTATE RESPONSE
January 28, 2010
| It wasn’t just President Obama giving state of the unions this week. |
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| Jones Lang’s New York chief Peter Riguardi gave a tour d’horizon on the city’s leasing activity for NAIOP (oh, wait, you can probably infer that from the picture) at the Haworth Showroom. He said the number of transactions picked up in ‘09 after a slow start and attributed it to Midtown landlords who attempted to “make it work” with proper adjustments and renovations to their properties. |
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| Peter noted that in the downtown office market, large firms continue to shred space as some employees are either getting laid off or working from home. We snapped him with NAIOP NY prez-elect Paul Formichelli, Haworth’s Aret Lerian, and current prez Joseph Tufarello. Looking ahead, Peter indicated that leasing activity in downtown Manhattan faces further decline in the next few years, but Midtown will see some growth in ’11 and ’12. |
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| We ran into ErgoTech’s Teri Chargualaf, Labrador Technologies’Denis Kane, and Millrose Consultants’ Dan Bsharat. Dan said Riguardi’s views gave him optimism about the Midtown market. Denis said business has picked up in the past two months. |
