Occupied office space in Manhattan fell by more than 8 percent in May and availability tightened slightly, however YoY demand soared by 60 percent, according to a report this week by Colliers.
Availability in Manhattan's Downtown area grew by 0.4 percentage points in May to a record-high 20.1 percent, marking the first time on record that any Manhattan market topped 20 percent.
Manhattan's availability is now at 17.2 percent.
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