over the last year, those seeking large blocks of space have been finding them at the trade center, which had many vacancies as a result of the 1993 terrorist bombing and the shrinkage of the financial industry in the early part of the decade.
''in january 1997 we had about an 80 percent occupancy rate,'' said cherrie nanninga, director of real estate for the port authority of new york and new jersey, which owns the complex. Twenty percent of 10.5 million square feet of space is 2.1 million, which would be a substantial building by itself.
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But for now investors appear to believe the good times will last, because they are paying prices unheard of less than a year ago, according to howard michael, chairman of the carlton group, a real estate investment banking firm.
''the guys who were paying $50 a square foot to buy buildings six to nine months ago are paying $110 to $120 a foot now,'' he said. ''downtown is still the cheapest real estate in manhattan, and it's the best opportunity for further growth.''