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Office Report

United States | New York, NY

Report | Manhattan Office Outlook | August 2014

Summary

  • ​Though leasing activity in Midtown was light for July, the Midtown Class A vacancy rate decreased to 11.2 percent from 11.5 percent in June
  • The Downtown market continued its momentum in July mainly due to two of Manhattan's most sizable leases
  • Midtown South leasing activity picked up in July, with overall vacancy tightening to 7.3 percent from 7.7 percent, as several sizeable leases from the creative sector closed
  • The New York City investment sales market experienced a record-setting first half of the year with 221 deals closed and 39 deals under contract for a total of 260 deals year-to-date

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