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NEW YORK CITY-Economic uncertainty, the European debt crisis and high unemployment caused tenants to take a back seat in the first quarter, but sustained yet modest growth from professional service firms helped the Manhattan office market stay afloat. At a media briefing held by CBRE on Tuesday morning, the brokerage said overall leasing activity for Q1 2012 was 4.65 million square feet, down from last year’s 6.21 square feet – a sign that the market has slowed, but hasn’t tapered off.

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