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First Quarter 2008 BarometerThe New York office market was full of mixed signals in the first quarter of 2008. The vacancy rate climbed higher with the Class A figure closing the quarter at 5.7%, up from 5.3% in December, while the overall vacancy rate hit 7.8%, up from 7.3% over the same period.
Fourth Quarter 2007 BarometerDefying naysayers, the Manhattan market closed 2007 in solid shape with a Class A vacancy rate of just 5.3% and a record high average asking rent of $85.69/sf.
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New York March 2008After vacancy rate increases in the two previous months, the Manhattan Class A market reversed course slightly in March with its vacancy rate falling to 5.7% from 5.8% in February.
New York February 2008The Manhattan Class A vacancy rate climbed for the second month in a row, closing February at 5.8%, up 20 basis points from January and 50 basis points from December.