Manhattan office vacancy rate rises in March

Manhattan’s commercial vacancy rate increased in March, according to a new report, at the same time average asking rents rose. The vacancy rate was 9.1 percent in March, up from 8.8 percent in February, according to a report released Monday by brokerage Colliers ABR. The vacancy rate for Class A space in Manhattan, specifically, increased, from 7.6 percent in February to 8.1 percent in March. more By Tom Acitelli