Financial Times FT.com

New York: High rents squeeze more juice from Big Apple

By Daniel Pimlott in New York

Published: March 14 2007 02:57 | Last updated: March 14 2007 02:57

It was a big day for New York when Metlife signed a 21-year lease to move its headquarters back from Long Island City to Manhattan last year.

“Metlife coming back to New York City from Long Island shows how important it is to be in Manhattan and the value for the labour force in Manhattan,” says David Arena, president of Grubb & Ellis New York.

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