Weak economic conditions in the United States have hurt earnings at office group RNY Property Trust, which posted a 12.4 per cent fall in year-on-year same property net operating income for the half year to June 30. The occupancy rate on its New York-based portfolio of office assets was 80.3 per cent, and the lease renewal rate was 68.2 per cent. The trust said it had made significant progress in talks to renew $US247.6 million in mortgage debt but there were no guarantees extensions or a restructure of the debt would be granted. RNY holds a 75 per cent stake in a company that owns 24 office properties and a warehouse. It has not paid a distribution since the end of 2008. Ainslie Chandler