Manhattan office market closing in on pre-Covid reality

Manhattan’s office market is advancing away from its post-pandemic recovery story. Tenants leased 3.25 million square feet in August, according to Colliers, putting the month 13 percent above the five-year monthly average and 16 percent above the 10-year average.  Leasing was down 16 percent from July, but the pullback hardly looks alarming given the pace of activity. Through August, tenants have absorbed 29.91 million square feet, up 9.4 percent from the same period last year and on pace to make 2026 the strongest year for office leasing since 2000. The clearest sign of how far the market has come is […]

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