The amount of available Class A office space, including direct and sublease space, in Manhattan has been steadily increasing since September of last year, according to Colliers ABR. The total amount of available space was up to about 20 million square feet last month, about 5 percent of the borough’s total office space. The vacancy rate for Class A office space is currently about 8.7 percent, the highest since September 2005.
|Zillow sues Compass for poaching tech talent, allegedly stealing trade secrets|
|Queens property purchased for $125M by Chinese firm headed to foreclosure|
|JLL I-sales broker out amid merger with HFF|
|This 19th century UES townhouse just traded hands for a loss|
|Blackstone will pay rent-stabilized tenants $1M. It won’t stop the lawsuit.|
|Vornado sells 45% stake in prime Manhattan retail portfolio valued at $5.6B|
|Marriott to build the tallest modular hotel in the world in NoMad|