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Most promising, however, were absorption figures, which, when compared with 1992 figures, revealed an enormous upswing in the Downtown market's health.
Much of the upswing in retail activity is due to the reception that the market has finally hit bottom.
And while most of the current movement is among small space users, the leasing upswing will likely prompt larger tenants to act as well.
Other highlights of the agency's Third Quarter survey, drawn from a questionaire sent to hundreds of local, national and international real estate companies headquartered in New York City, include the following: * 61 percent of the respondents predicted an upswing in the economy while only 14 percent felt no turnaround was likely.
As further evidence of a general upswing in the luxury condominium marketplace, Luban noted that only 114 sales took place during the second and third quarter in 1990 compared to 166 transactions during the same period this year.