Midtown (A) will finish year at lowest vacancy rate since 2008

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New York Chart of the Week: December 8, 2014

PowerPoint Presentation

  • 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.

Click here for a larger version of the chart.

Source: JLL Research, Moody’s Analytics

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