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Office Report

United States | New York, NY

Report | Manhattan Office Outlook - November 2014

Summary

  • Midtown asking rents were mostly unchanged in October while vacancy dipped slightly.
  • Seven consecutive months of Class A vacancy decreases reversed course in the Downtown market in October due to the introduction of three large blocks of available space.
  • The Midtown South Class A vacancy rate continued to decrease in October, tightening to 3.7 percent—the lowest level since 2007.
  • The New York City investment sales market saw 328 deals close through the third quarter of 2014, up 47.0 percent from full-year 2013 and on pace to surpass the previous record of 346 deals in 2007.

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