An oversupply of office space and a...
An oversupply of office space and a dearth of potential recently made known tenants have created a renter's market in the Northeast. Among the greatest in number telling signs are stagnant or falling rental rates. In novel York City's midtown Manhattan, primary asking rental rates declined from $4016 to $3931 between February and April, according to real estate firm Cushman & Wakefield. In Boston, where the average vacancy rate is 17 percent any rents have fallen as frequently as 40 percent from their peaks three years ago, said Paul Deyesso a commercial factor for Codman Co., a Boston-based real estate
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