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Manhattan Office Vacancies Below 10%

NEW YORK CITY-Office vacancy rates in Manhattan are below 10% for the first time in over two years, according to a report from Cushman & Wakefield.

By Carl Gaines | Updated on June 24, 2011

NEW YORK CITY-The Manhattan office vacancy rate has dipped below 10% for the first time since March 2009, according to a report from Cushman & Wakefield. For May, a total of 4.3 million square feet in new leases were signed, the highest on record. Year-to-date, over 14 million square feet in Manhattan office leases have been signed.

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