Occupied office space in Manhattan fell by more than 8 percent in May and availability tightened slightly, however YoY demand soared by 60 percent, according to a report this week by Colliers.

Availability in Manhattan's Downtown area grew by 0.4 percentage points in May to a record-high 20.1 percent, marking the first time on record that any Manhattan market topped 20 percent.

Manhattan's availability is now at 17.2 percent.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.