Essay heading: 9/11 and the market for Manhattan office space

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Business

 

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Date added:

September 30, 2003

 

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3 / 654

 

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Some of them even moved to the suburbs. Therefore those who lost their offices and still wanted to stay on Manhattan did not have problems with finding space because there was no significant increase in demand and before the attack there was already some excess in supply. That is why, although supply might decrease and the demand did not change (or even slightly decreased as effect of anxiety and safety concerns), the market did not suffer noteworthy...
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Decisions about relocation were mostly caused by lower taxes outside New York City and increasing consciousness of security matters. That not only involved companies itself but also caused a lot of employees to move to the suburbs, making it more convenient to locate offices there. As we can see, a lot of different factors affected the Manhattan office space market due to the attack, but they did not cause a big turn...
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