Office Rents Drop in Manhattan. (09-MAY-01) Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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Office Rents Drop in Manhattan.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 09-MAY-01

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Byline: Eric Herman

May 9--It would have been unthinkable a year ago, but office rents in Manhattan are dropping.

A new report shows rents sought by commercial landlords dipped in April from March in each of the three main Manhattan office markets: midtown, midtown south and downtown.

At the same time, the amount of office space available in midtown increased nearly 20 percent .

The rent declines are not dramatic...

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