Job Growth Will Lead the Way to Recovery

NEW YORK CITY-Ken Krasnow, executive managing director and head of Cushman & Wakefield’s New York offices, said the market here is experiencing “clarity” and anticipates job growth will be a trend that “will take hold and get traction.” Speaking at C&W’s first quarter market overview breakfast, he categorized the investment sales market as “red hot” right now and expects there to be a “robust period” this year.

“I see more a sense of urgency in the market,” he noted, adding that some expect there to be an interest rate increase before the November election. “Sellers are looking to put product on the market.”

New leasing activity for the quarter, which represented the most square footage leased during any three-month period over the last two years, totaled 7.7 million, compared to 5.8 million during the same timeframe last year.