MANHATTAN COMMERCIAL SPACE VACANCY RATES DROP FOR FIRST TIME IN 3 YEARS

The un-occupancy rate in New York fell to 10.8 percent from 11.6 percent at the end of March according to Cushman Wakefield. Rents declined for the seventh straight quarter to $54.31 a square foot from $55.38. I guess when banks are hiring 6,800 employees in 3 months, you need space….