New York Market Overview
- Total Manhattan Class A Office vacancies increased from 9.1 % vacant to 9.2 % vacant
- Total New York City Office vacancy stayed at 8.1 % vacant
12.5 percent and the Midtown South vacancy rate declined to 9.6 percent from 9.8 percent. Downtown, the vacancy rate increased slightly to 10.0 percent from 9.9 percent. May was also the strongest month for new office leasing activity in Manhattan since September 2006, with 2.6 million square feet of new office leases signed during the month, a 221 percent increase over May 2009.