Dark blue is third-quarter 2008; grey is second-quarter 2009, light blue is third-quarter 2009 (Source: FirstService Williams)
Manhattan office leasing market indicators were mixed in the third quarter of 2009, showing a continued weakening of asking rents but a flattening of availability rates, according to a report released today by commercial services firm FirstService Williams. (See full report after the jump.) Asking rents in Manhattan fell by 8.5 percent in the third quarter to $53.54 per square foot, from $58.52 per square foot in the prior quarter, the report says. The decline was not as steep as in the second quarter, which saw a drop of 10 percent from the previous quarter. Asking rents fell by 32.6 percent in the third quarter from their peak in the second quarter of 2008, the data shows. more
