Midtown (A) will finish year at lowest vacancy rate since 2008
0 CommentsNew York Chart of the Week: December 8, 2014
- Both New York County (Manhattan) unemployment and Midtown Class A vacancy are at the lowest level since 2008.
- The short-term increase in the unemployment rate (2011-2012) was a precursor to the rise in vacancy.
- The rates could diverge in early 2015 as unemployment continues to fall while a handful of large blocks come to market.
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Source: JLL Research, Moody’s Analytics