Tag Archives: Plaza District

Midtown & Lower Manhattan experience increased vacancy in January

0 CommentsBy

Manhattan Office Outlook | February 2015

MMU_Feb2015JLL’s New York Research team has just released its February Manhattan Office Outlook – a monthly wrap-up of leasing activity in Manhattan, including Class A vacancy and asking rates, along with a snapshot of conditions in capital markets.

Report highlights are as follows:

Midtown Manhattan
Midtown Class A vacancy rose to 11.4… Read More

Vacancy rises in January as new blocks hit

0 CommentsBy

JLL New York Chart of the Week

PowerPoint Presentation

  • Midtown Class A vacancy climbed to 11.4 percent from 10.7 percent at year-end, with the addition of new product in the Penn Plaza/Garment District and returned space in the Plaza District.
  • Downtown Class A vacancy rose to 13.0 percent in January from 11.6 percent at year-end 2014. Trophy space
  • Read More

Midtown trophy rents at highest level in three years

0 CommentsBy

New York’s Trophy Buildings Continue to Outperform Larger Market


While Manhattan’s growing economic diversification into high-tech and other creative industries is welcome news for the larger economy, JLL New York’s research team has found that financial and legal services continue to drive occupancy and pricing at the top of the market. The majority of New York’s most expensive properties remain clustered around the… Read More

Chart of the Week: Top rents clustered in the Plaza District

0 CommentsBy

New York Chart of the Week: July 7, 2014

PowerPoint Presentation

  • Trophy assets in the Plaza District command the highest rents in Manhattan with an average direct asking rent of $104 per square foot
  • Year-to-date, there have been 32 leases with a starting rent of $100+ per square foot, compared with 29 at this time last year
  • Assets with
  • Read More