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Jump to: Market Overview | Office
Market Overview

First Quarter 2008 Barometer
The 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 Barometer
Defying 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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Office

New York March 2008
After 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 2008
The 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.

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