NYC Office Leasing at Lowest Since 2009 With More Pain to Come
- Pandemic has companies pondering how much space they need
- Major landlords have been hit hard with city’s economy shut
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The coronavirus has put a freeze on New York’s office market.
New leases in the city, the epicenter of the outbreak in the U.S., sank to the lowest first-quarter level since 2009, according to Newmark Knight Frank. The collapse came in March, when businesses shut down to stem the spread of the virus.