{"id":1004021514,"date":"2010-07-07T10:51:28","date_gmt":"2010-07-07T18:51:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004021514"},"modified":"2022-12-01T15:38:50","modified_gmt":"2022-12-01T23:38:50","slug":"cw-manhattan-market-looking-better-leasing-doubles-year-over-year","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\/","title":{"rendered":"C&amp;W: Manhattan Market Looking Better, Leasing Doubles Year over Year"},"content":{"rendered":"<p>July 7, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004021515\" style=\"width: 273px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004021515\" data-attachment-id=\"1004021515\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\/midweekpost-three\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg\" data-orig-size=\"900,1024\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"midweekpost, three\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user midweekpost&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg?w=900\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg\" alt=\"\" title=\"midweekpost, three\" width=\"263\" height=\"300\" class=\"size-medium wp-image-1004021515\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg?resize=264,300 264w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg?resize=768,874 768w\" sizes=\"auto, (max-width: 263px) 100vw, 263px\" \/><\/a><p id=\"caption-attachment-1004021515\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user midweekpost<\/p><\/div>\n<p>Better times are afoot for the  Manhattan commercial real estate market, according to Cushman &amp; Wakefield. The firm today released second-quarter statistics showing that the vacancy rate declined to 10.8 percent in June from 11.6 percent in March.<\/p>\n<p>That decline dovetails with the strongest quarter for new leasing activity in Manhattan since the third quarter of 2006 \u2013 6.9 million square feet of new office leases were signed, bringing the midyear total to 12.6 million square feet. That\u2019s up a whopping 98 percent year over year.<\/p>\n<p>Manhattan\u2019s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.<\/p>\n<p>\u201cIn Midtown, the market has clearly trended from stabilization to recovery over the past six months,\u201d C&amp;W managing director of research for the New York metro region Ken McCarthy said when announcing the news.<\/p>\n<p>The quarter\u2019s top five leases included a 380,000-square-foot renewal and expansion for Jones Apparel Group at 1411 Broadway, a 378,304-square-foot new lease for Proskauer Rose at 11 Times Square, a 352,000-square-foot renewal for Willkie Farr &amp; Gallagher at 787 Seventh Ave., a 280-square-foot new lease for Local Union 32BJ at 620 Avenue of the Americas and a 260,994-square-foot new lease for Tiffany at 200 Fifth Ave.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manhattan\u2019s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.<\/p>\n","protected":false},"author":936,"featured_media":1004021515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,10],"tags":[],"class_list":["post-1004021514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>C&amp;W: Manhattan Market Looking Better, Leasing Doubles Year over Year - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C&amp;W: Manhattan Market Looking Better, Leasing Doubles Year over Year\" \/>\n<meta property=\"og:description\" content=\"Manhattan\u2019s Class A vacancy rate dropped to 11.6 percent in June from 12.6 percent at the end of the first quarter, while the overall Midtown Manhattan vacancy rate declined to 11.5 from 12.6 percent. Those figures entail all sectors of real estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-07-07T18:51:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T23:38:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/07\/midweekpost-three.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"C&amp;W: Manhattan Market Looking Better, Leasing Doubles Year over Year\",\"datePublished\":\"2010-07-07T18:51:28+00:00\",\"dateModified\":\"2022-12-01T23:38:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/\"},\"wordCount\":249,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/07\\\/midweekpost-three.jpg\",\"articleSection\":[\"Brokerage\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cw-manhattan-market-looking-better-leasing-doubles-year-over-year\\\/\",\"name\":\"C&amp;W: Manhattan Market Looking Better, Leasing Doubles Year over Year - 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