Early signs of strong office market in 3rd quarter

Sign Up for the undefined Newsletter

Signs are emerging that the Manhattan commercial market exited strongly from the summer. The overall commercial vacancy rate in Manhattan declined during the third quarter of 2005 from both the second quarter and the same time period in 2004. The rate for the third quarter of 2005 was 8.9 percent, according to preliminary statistics released Friday afternoon from commercial firm Grubb & Ellis. more