Manhattan office vacancy budget is up a little but given the strong office leasing deliveries that is an impressive statistic, showing the strength of the office market.

Retail leasing was slower than usual with leasing down from the previous month due to a large lease from Toyota.

Manhattan Building Sales:

Manhattan investment sales retreated in June, with just over $2 billion recorded. The figure was a steep decline from May’s $3.6 billion but was right on the average for the past year.

Manhattan Office Rent Vacancy

Manhattan Retail Rent Vacancy

For the latest market research on New York City commercial real estate, contact Stephen Sunderland.  Optimal Spaces releases a monthly analysis of the market, including detailed statistics and graphs: https://www.optimalspaces.com/market-research/

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Optimal Spaces is an industry leader Tenant Representative firm helping clients looking for office, retail and industrial real estate in New York City.  We solely represent our client’s interest, unlike most other brokerage firms who represent the landlord’s interest.  Optimal Spaces offers strategic advice and execution for commercial real estate, corporate brokerage, market research and consulting.  Optimal Spaces brokers are all experts each with a minimum of ten years in the fields of retail and office. 

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