Big financial firms got much of the attention in New York’s commercial real estate circles last year by inking large deals for the city’s flashy new office space. But the more frugal sector of nonprofit and public organizations carved out an important role as well, signing huge leases of their own and helping to prop up an otherwise slumping commercial property sales market. Last year, nonprofit and public organizations signed leases for 6 million square feet of space throughout the city, a 46.3% increase from 2016, according...

Source: Wall Street Journal March 26, 2018 00:11 UTC