Wednesday, December 15, 2010

NYC to shrink its real estate

The New York Post reports:
Along with attempting to downsize its budget and pension obligations, the city is looking to downsize its real estate.

"We have 1 million square feet too much," Deputy Mayor Stephen Goldsmith told the executives of the Real Estate Board of New York yesterday at the group's holiday lunch at the Waldorf Astoria.

Who says they don't make more real estate?