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New York

Vacancy rate rises sharply Downtown: report

The vacancy rate Downtown rose sharply as Goldman Sachs’ former headquarters building, the 1.1 million-square-foot tower at 85 Broad Street, was officially added as available to the leasing market, commercial services firm Cassidy Turley said in its monthly Manhattan office leasing report released today (see full report below).

The vacancy rate Downtown rose by more than a percentage point to 12.2 percent in March from 11.1 percent in February  because of the addition, the report says.

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The building also drove Manhattan’s Class A vacancy rate to its highest level in 13 years, the report says, reaching 12.8 percent in March.

For Manhattan overall, the vacancy rate rose by .2 points to 13.5 percent, and the average asking rent rose by 10 cents to $50.41 per square foot. TRD
10 March

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Cassidy TurleyFinancial DistrictLower ManhattanOffice Market