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NEW YORK CITY-Office leasing activity rose during year over year, Cushman & Wakefield said Thursday in a new report, and not just in Manhattan. While two of the island’s three submarkets saw vacancy declines in the third quarter—the third, Downtown, saw an uptick due to large blocks of space from just a handful of properties, vacancies that had been widely expected—so did a total of 15 of the 30 CBDs tracked by C&W, and a total of 18 saw YOY increases in leasing volume.

However, while leasing volume rose and vacancies fell, asking rents remained largely static, although a few markets recorded modest quarterly gains. It’s fair to see a correlation between the vigorous traffic and the lack of significant price increases, Maria Sicola, executive managing director and head of Americas research for C&W, tells GlobeSt.com.

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