Source: Politico —
Visitors are returning to Lower Manhattan, boosting area hotels and retail — but more than two years into the pandemic, office vacancies remain high and asking rents are inching down in one of the city’s major business districts.
A new report from the Alliance for Downtown New York noted office leasing activity in the area remained 45 percent below the five-year quarterly average during the second quarter of 2022, and saw a 31-percent decline from the first quarter.
