CBRE Group found that the amount of office space available for sublease in Manhattan has declined, despite a high number of office job losses in connection with the pandemic.
A slowdown in sale and lease transactions is expected but overall metrics such as the vacancy rate and asking rents remained flat in the first quarter of this year, a study showed.
There was only one metric that got worse from April to May: The number of respondents who see delays in financing. Otherwise, coronavirus impacts on projects got slightly better for every metric that the survey measured.