Once we get the election out of the way, I'm confident this will get a tenant. Didn't realize Silverstein had a full 16 months left to find a tenant, that's plenty of time.
Presidential politics delay Manhattan office leasing
August 01, 2012
By Adam Pincus
"While the Manhattan office-leasing market has been stuck in neutral all summer and has been dealing with Wall Street’s shrinking footprint, real estate professionals say it’s also suffering because of the uncertain outcome surrounding November’s presidential election.
Marc Holliday, CEO of the city’s largest office landlord SL Green Realty, told analysts late last month that Manhattan tenants are holding off on leasing decisions until voters decide whether to give President Barack Obama four more years in the White House or replace him with GOP contender Mitt Romney, the former governor of Massachusetts. That is, he said, despite growth in New York City office employment.
“Tenants seem to be taking a more cautious approach right now, and I think this will remain the case, certainly for the next several months, until we clear the election,” Holliday said.
Despite the broad sense of a stalled market, the overall Manhattan availability rate — which measures space available now or in the next 12 months — fell by 0.2 points last month to 10.3 percent in July, while the average asking rent ticked up by $0.25 per square foot to $54.95 at the same time, figures from commercial firm Cassidy Turley showed..."