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New York Faces Office Space Crisis Amid Booming Economy
The article notes a severe shortage of office space in New York City despite strong growth on Wall Street and rising rents. It cites high real estate prices, limited new construction, and reluctance from lenders, with firms shifting some operations to New Jersey waterfront sites like Jersey City and Hoboken.
MENTIONED IN THIS ARTICLE
New York
New York City
eHi
Exoerts
Wall Street
Charles Schumer
Times Square
Lower Manhattan
Long Island City
Queens
Brooklyn
Manhattan
New Jersey
John Wiley & Sons
Thomas Jefferson
Chase Manhattan Bank
Hudson River
Rudolph Giuliani
Carpenters
Galdman, Sawhs & Co
Conde Nast
Midtown
Reuters
Ernst & Young
Moran Stanley Dean Witter
Bear Stearns
Random House
Time Warner Trialhare
New York Times
Imperial Bank of Commerce
David Tobin
Carlton Group
Insignia
ESG
Perations
Jersey City
Hoboken
Weehawken
U.S. Trust
Cigna Insurance Company
Lord,Abbott & Co
Insurance Services Office
Goldman, Sachs & Co
Mer-ril Lynch
Colgate
Chase Manhattan
Schumer