" Earlier this month Cushman and Wakefield released its third quarter report from Manhattan commercial office market reporting that the city's overall vacancy rate is at its highest level in five years at the end of the third quarter the overall vacancy rate which includes space. There will become available within next six months. Reached eleven point 1% its highest level since the third quarter of 2004. Overall asking -- declined to 57 dollars and eight cents per square for a a 21 point 8% decline representing a sixteen dollar decrease in this time -- The average asking her for sublease space has been more heavily discounted over the past year the average asking -- for sublease space ended a 49 dollars and 54 cents the -- version asking -- for direct space declined nineteen point 9% in the prior year perhaps the greatest decline affecting the commercial office market is. Is the asking rent versus the net effect the rent. The net effect of -- represents the actual rent the tenant pays for space after taking into consideration concessions for free rent and leasehold improvements. Why asking Lawrence a down twenty point 2% in net effect immigrants -- down by 44 point 9% this is Michael so with Michael -- report."