Plaza Submarket Has Highest Vacancy Rate in Manhattan

The Plaza Class A vacancy rate closed August at 13 percent–the highest vacancy rate of the 14 Manhattan submarkets. It climbed 120 basis points last month alone, thanks to a new 492,000-square-foot chunk of space now available on a direct basis at the Kushner Companies- and Vornado Realty Trust-owned 666 Fifth Avenue.
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Plaza Submarket Has Highest Vacancy Rate in Manhattan