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Office Report

United States | New York, NY

Report | Manhattan Office Outlook - September 2014

Summary

  • Midtown Class A vacancy fell sharply in August to 10.7 percent from 11.2 percent in July while asking rents remained stable.
  • Strong leasing activity from small- and medium-sized tenants helped reduce the overall Downtown vacancy  rate to 11.3 percent—the lowest level since September 2012.
  • With the summer slowdown in full effect, leasing activity cooled in Midtown South during the month of August.
  • Strong investment sales momentum continued through the first half of 2014, as a sustained favorable lending environment helped boost investment sales volume activity, with total U.S. volume growth for all core sectors tracking above 20 percent year-over-year.

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