Tuesday, September 25, 2007

Big N.Y. Real Estate Deals Belie Idea of a Slowdown

A slew of financial services firms have leased large blocks of office space in recent weeks, many for rents approaching $200 a square foot, belying fears of a market slowdown. Among the largest deals are those of investment firm AllianceBernstein, which has inked a deal to expand by about 151,500 square feet at 1345 Sixth Ave., and National Financial Partners, a network of financial advisers that is moving into a nearly 100,000-square-foot space at 340 Madison Ave. In addition, PricewaterhouseCoopers has a lease pending for 200,000 square feet at 100 Park Ave., according to brokers familiar with the deal.

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