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Two Sides of a Coin: London and Manhattan

NEW YORK CITY-The two metropolitan juggernauts are surprisingly similar and their futures are on a common path.

By Cody Lyon | Updated on August 25, 2009

NEW YORK CITY-While both Manhattan and London office transactions have turned into ‘rare occasions’ in the months since the onset of the financial melt-down, there are signs–at least in London–activity has started to return, according to a new Global Trends report by Real Capital Analytics.

The report points out glaring similarities, like Manhattan and London tenant bases that are comparable–often duplicative–with similar credit profiles; investment communities that are very much intertwined; and space markets both locked into similar patterns.

More broadly, “a number of international companies, would certainly be present in both financial centers, but on the margins, there are thousands of employees that could basically work out of any office,” says Dan Fasulo, managing director at RCA, tells GlobeSt.com. He adds that despite being significantly more expensive than Manhattan, London offers the appeal of being better connected to the fast growing regions of Eastern Europe, Russia, and even Asia.

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