Manhattan Vacancy Rate Up Slightly

Posted15/Jul/2006 16:00:00

Citing a report by Citi Habitat brokers, "The Real Deal" reported that the vacancy rate on the island went up slightly from 0.43 percent in May to 0.56 percent in June.

According to the recently released report, some neighborhoods such as Midtown East saw a sharp increase in vacancy rates (to 1.03 in this case), while others increased slightly or stayed roughly the same.

Murray Hill had the lowest rate at 0.23%, barely above the 0.21% level in May. Only in the Financial District did the vacancy rate decrease (to 0.48%).

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