Manhattan office rents up substantially over last year across all markets, while vacancy levels continue to drop, Cogent Realty Advisors reports
New York, NY -- (SBWIRE) -- 08/01/2014 -- Cogent Realty Advisors released a new report detailing the latest developments in Manhattan's commercial real estate leasing industry. The company found that rental rates for offices in Manhattan have increased by an average of 3.7% compared to the last quarter of 2013, with notable reductions in office space vacancy accompanying the increasing prices. Cogent Realty Advisors is a Manhattan-based office leasing specialist and broker, offering clients a variety of informational resources and strategies for satisfying their office space needs.
"Our latest report on the evolution of the Manhattan commercial office leasing scene includes some eye-opening developments," Cogent Realty Advisors representative Mitch Waldman stated, "and we're sure that it will make worthwhile reading for anybody who is interested in real estate in Manhattan." Drawing from statistics compiled by the Costar Group and other reliable sources, Cogent's just-released analysis paints a picture of a market that continues to heat up, even after results from previous years led some observers to postulate that a slowdown was in the offing. Cogent Realty Advisors' new report includes breakouts of the Downtown, Midtown, Midtown South, and Uptown markets, as well as in-depth looks at the many smaller sub-markets that make up each of these.
In addition to providing research and informational resources like the company's new report, Cogent Realty Advisors also works hard to develop individualized strategies aimed at satisfying the needs of each of the company's clients. As office space real estate leasing prices in Manhattan have continued to rise, an increasing number of companies have found it necessary or advantageous to look for ways to save on their own costs of this sort. Through the development of a number of innovative approaches, Cogent Realty Advisors has successfully helped a growing number of clients lower their real estate leasing costs even as prices for renting office space in Midtown Manhattan and other markets have steadily increased in recent years.
"Keeping in very close touch with market conditions is an important way of serving our clients better," Waldman continued, "so our new report is a natural outgrowth of our mission. This is just one of the many ways we work so hard to get our clients the office space they need at unbeatable prices." Led by a broker with seventeen years of experience in the industry, Cogent Realty Advisors is a full-service firm that serves clients through every stage of the process of leasing office space, from initial research, planning, and analysis to the final negotiation of terms. Cogent Realty Advisors' new report is available at the company's website, where a variety of other informational offerings and descriptions of the company's services can also be found.
About Cogent Realty Advisors, Inc.
Cogent Realty Advisors is a leading tenant representative broker focusing on commercial office space leasing in Manhattan. The company's no-fee, full-service approach has produced a long record of successful projects, with many clients saving substantial sums of money compared to their earlier arrangements.