Park Avenue vacancy rate lower than before pandemic after recent large deals

It’s no secret that some Midtown office corridors are doing better than others. Even so, a new Savills survey contains a remarkable finding: Park Avenue’s current availability rate of 8.9% not only compares favorably to Midtown’s overall 17.6%, but with Park Avenue vacancies in the prehistoric, pre-pandemic fourth quarter of 2019 — when it was...