New York Chart of the week: August 18, 2014
- While summer is typically the slowest quarter of the year, leasing activity was brisk in both June and July.
- August has seen a sharp decline in the number of lease comps recorded. At this rate we would reach 64 total, compared with 72 in August 2013 and 82 in August 2012.
- The month is not complete, and the process by which comps enter the market may have slowed as well, compounding the effect.
Source: JLL Research