Saturday, November 08, 2008

The sound of one shoe dropping

UBS offers 112,000 sq.ft. for sublease. A commercial broker quoted in the article says this is just the first attempt to sublease a huge block of financial services space - the industry expects many more. I keep thinking of that Antares' principal's quote in the New Yorker, to the effect that he wasn't worried about charging such high rents to tenants at the old UST building in Greenwich because they were all hedge fund firms, "and these guys treat rent payments like lunch money bills." What if someone eats their lunch and steals their lunch money?

1 comment:

Anonymous said...

Excellent Point - Chris - Will You Pay For My Lunch?? See you at 'Garden Catering' - yes - I'll buy next time - Breakfast - that is! :)