Manhattan is observing rising office vacancy rates.
A report from <a href="https://www.nmrk.com/insights/market-report/manhattan-downtown-market-reports">Newmark</a> covering the downtown Manhattan office real estate market during the second quarter of 2021 indicated that despite plummeting rental prices, the availability rate for businesses reached 21.1% in June — a record high. Reports for <a href="https://www.nmrk.com/insights/market-report/manhattan-midtown-market-reports">Midtown</a> and <a href="https://www.nmrk.com/insights/market-report/manhattan-midtown-south-market-reports">Midtown South</a> reveal similarly high vacancies.

Manhattan Sees Record High Office Vacancy Rate As Businesses Flee

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Manhattan Sees Record High Office Vacancy Rate As Businesses Flee