New buildings spur office vacancy rate jump

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Three big new office buildings helped drive the Manhattan commercial vacancy rate up in January, according to a report released Wednesday by brokerage Colliers ABR. The overall vacancy rate for the borough climbed from 8.7 percent in December to 8.9 percent last month, mostly, the report said, due to the coming on the market of 7 World Trade Center, 959 Eighth Avenue, and 505 Fifth Avenue. The vacancy rate for Class A commercial space spiked more sharply, from 7.4 percent in December to 7.9 percent in January. more By Tom Acitelli