December 12, 2023
According to the New York Times, the financial district boasts the highest office vacancy rate in Manhattan. Approximately 27 percent of office spaces are available for lease, a significant increase from the pre-pandemic rate of 11 percent.
Because of this, real estate consulting firms such as Vanbarton Group are converting some spaces into residential real estate.
To read further you can find the full article in the New York times here.