Manhattan Office Supply Hits Record High With Skyscrapers Empty
February 1, 2021 | Natalie Wong | Bloomberg
There’s a record amount of office space available in Manhattan.
With workers stuck at home, the office availability rate rose to 14.9% in January, the highest in data going back to 2000, according to a report by Colliers International.
Leasing fell by nearly 47% from the same period last year. That came even as asking rents dipped for the seventh straight month to $73.65 a square foot on average, the lowest in almost three years.
