Manhattan offices continue struggle as downtown hits new low – Robert Khodadadian

Manhattan’s office market continued its struggle into the summer, hovering around record vacancies. Leasing volume fell 3.9 percent in the second quarter to roughly 7.3 million square feet of office space, according to Colliers quarterly data reported by Crain’s. The vacancy rate in Manhattan for the second quarter was 17.2 percent, a slight improvement from the previous period. It was an increase year over year, however, and not far off from February’s record 17.4 percent

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, Colliers International, Manhattan Office Market, office market The Real Deal New York Read More