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Market Overview
Third Quarter 2008 Barometer The end of the world as we know it is near. That is certainly the take from a wide variety of pundits due to the economic crisis we find ourselves in this year. Second Quarter 2008 Barometer The New York office market was certainly not in the finest of form in the second quarter as its overall vacancy rate increased 90 basis points to 8.7% from 7.8% in the first quarter while the overall average asking rent managed only a minor increase, climbing 2.1% to $66.75/sf from $65.38/sf. First Quarter 2008 Barometer The New York office market was full of mixed signals in the first quarter of 2008. The vacancy rate climbed higher with the Class A figure closing the quarter at 5.7%, up from 5.3% in December, while the overall vacancy rate hit 7.8%, up from 7.3% over the same period.  back to top
Office
New York October 2008 The Manhattan office market felt the cool October breeze as its Class A vacancy rate jumped to 8.0%, up from 7.4% in September and its highest figure since the 8.1% of March 2006. New York September 2008 Even before the most recent financial implosions have had time to take effect, the Manhattan market has already begun to weaken with the September Manhattan Class A vacancy rate up sharply, closing at 7.4%, up 50 basis points from 6.9% in August.  back to top