Manhattan, NY - New York's Top Offices Go Empty; Vacancies Jump 43% on Layoffs

Manhattan, NY - The vacancy rate for top-class New York City office space rose to 7.7 percent in the third quarter, a 43 percent jump from the same period last year, as Wall Street firms laid off workers and sought tenants for space they no longer need. The market, in which rents have continued to rise, has reached an ``inflection point,'' where rents will begin to fall, said Kenneth...