A new article shows that vacancy rates in Manhattan’s downtown are beginning to head upward. Some of the more dire predictions have vacancy rates topping out in the high teens but with Manhattan’s real estate market showing signs of recovery and the national economy beginning to stabilize, the market may be in a better position.
Downtown’s office market woes are one of the reasons that community and city leaders are having trouble deciding on what will become of the site of the former Deutsche Bank building.
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