During the Recent Slump in Leasing Activity, NYC’s Midtown South Area Fares Relatively Well

In a recent article in Crain’s New York Business, Theresa Agovino discusses how the Midtown south area of NYC, particularly Chelsea, has endured the recent slump in leasing activity relatively well. According to Agovino, the area has attracted an influx of creative companies. Why is the Midtown South area prospering in relation to adjacent neighborhoods? The answer lies in the area’s buildings, which possess key characteristics that are desirable for creative companies. Agovino states, “Creative companies have increasingly flocked to midtown south, lured by its less expensive rents, buildings with large floor plates and nontraditional interiors,  and the abundance of similar firms nearby.” Read the reasons for this trend in the following article

 

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