New York Market Overview
- Total Manhattan Class A Office vacancies stayed at 8.7 % vacant
- Total New York City Office vacancy increased from 7.3 % vacant to 7.4 % vacant
Twenty firms, mostly in the technology field, have submitted proposals to open offices in Lower Manhattan, in a move that could transform the cultural makeup of the neighborhood. The city, in an attempt to encourage tech migration to the Sandy-ravaged neighborhood, will announce the 20 finalists who will receive grants from $10,000 to $250,000 to establish a presence there.