NEW YORK CITY-It's a good problem to have.
A big spike in sales of office condominiums has put the squeeze on companies in search of new digs. And while that's a sign of a healthy recovery, it spells bad news for anyone looking for a price break on office space.
So says a new report by Rudder Property Group, which estimates that, in July, there was only about 300,000 square feet of office condo space available citywide, excluding two large commercial condo buildings that were designed for specific types of tenants, according to Crain's New York Business.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
