The cost of renting office space in Manhattan set new records in the third quarter amid strong leasing activity that was driven by a job creation rate in New York that exceeds the nationwide average. Leasing activity across Manhattan is 13.8% above the city’s 10-year average, and year-to-date is 11.1% better than 2015, a banner year for commercial real estate in New York, the brokerage said on Thursday. New York has created 89,000 new private sector jobs in the 12 months ended August, a 2.4 percent increase that tops the U.S. job gains rate of 1.9 percent.
Read more: Economic Times
