Vacancy rates rose in the New York office segment in Q3 – the 13th consecutive quarter in which they haven't dropped, according to new data from Moody's Analytics.
This time, they moved in accelerated fashion, up 10 basis points (bps) in the latest quarter, and by 100 bps over the last four quarters to 11.1%.
Vacancy remained flat for three of the 13 quarters: Q2 2020, Q3 2021, and Q1 2022. The most recent vacancy decline occurred in Q2 2019.
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