Thursday, February 09, 2012

 
 
 

 
 
 
 
 
Manhattan landlords uneasy; cutting lease durations
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Wednesday, March 11, 2009
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Top commercial real estate landlords are opting out of the traditional ten-year lease, afraid tenants may encounter problems in the future. And unsure tenants are choosing shorter-term leases, not sure of how much space they'll need in the future.

21% of all leases signed in the fourth quarter were for one, two, or three years - up from 15% in the same quarter of 2007. And the short-term leases should only become more popular this year.

This phenomenon mainly applies to smaller tenants, as larger firms still prefer the cost savings associated with longer leases.

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Topics: New York | Real Estate
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