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In New York, office vacancies are soaring. It’s not a good sign for the city’s recovery

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Across Manhattan, 18.7 percent of all office space is available for lease, more than double the rate from before the pandemic, according to Newmark, a real estate services company.

There are signs that the situation in New York could get worse. A third of leases at large Manhattan buildings will expire over the next three years, according to CBRE, a commercial real estate services company, and companies have made clear that they will need significantly less space.

https://www.nytimes.com/live/2021/07/02/world/covid-19-vaccine-coronavirus-updates#in-new-york-office-vacancies-are-soaring-its-not-a-good-sign-for-the-citys-recovery
 

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