Manhattan’s November office leasing hits speed bumps
The Manhattan office market pumped the brakes in November. Leasing activity dipped nearly 18 percent from October, despite a handful of big deals. Tenants inked deals for 2.99 million square feet, down about 12 percent year over year, according to a new Colliers report. Still, demand exceeded the borough’s 10-year monthly average and pushed year-to-date activity to 36.7 million square feet, already ahead of last year’s total. If December holds pace, Manhattan could top 40 million square feet of leasing for the first time since 2019. A handful of headline-grabbing deals anchored the month, led by Millennium Management’s 438,000-square-foot renewal […]
This article originally appeared on The Real Deal. Click here to read the full story.
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