New York Market Overview
- Total Manhattan Class A Office vacancies decreased from 8.5 % vacant to 8.3 % vacant
- Total New York City Office vacancy decreased from 7.3 % vacant to 7.2 % vacant
{dynamic_word1} Commercial Real Estate Overview
There were several large new subleases coming on the market, such as: Dewey & LeBoeuf, the massive law firm that is considering filing for bankruptcy, is looking to sublease up to 160,000 square feet of the firm's space at 1301 Sixth Avenue.Pfizer recently put 274,000 square feet at 150 East 42nd Street up for sublet and JPMorgan & Chase is looking to unload 50,000 feet at 277 Park Avenue. In the interim Citigroup and Societe Generale have recently shed a combined 172,000 square feet and Nomura has cut 200,000 square feet from the 900,000 it originally agreed to take at Worldwide Plaza.
