Office vacancy up in Midtown South, Downtown

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Vacancy rates increased in February in Downtown and Midtown South, but the overall Manhattan commercial market remained strong, recent mid-winter numbers show. The vacancy rate for Downtown rose 0.1 percent from January to 11.5 percent, according to a report from commercial brokerage CB Richard Ellis. In Midtown South, the rate also crept upward month-over-month, to 5.9 percent from 5.7 percent. The overall Manhattan vacancy rate was 6.8 percent in February, CB Richard Ellis reported, unchanged from January. more By Tom Acitelli