Office leasing activity in Manhattan in January more than doubled the total in December, becoming the strongest month of leasing for the nation's largest office market since December 2019.
January's leasing total surged to more than 4.4M SF in Manhattan from December's tally of 1.9M SF, with the lion's share of the new leasing activity coming in Midtown—which notched 3.2M SF of leases—according to Colliers' new January report for the Manhattan office market.
The surge of leasing velocity in Midtown was nearly triple the December total of 1.1M SF, representing the strongest month of demand in Midtown since July 2018; Midtown South saw activity surge to 1M SF from the December tally of 588K SF.
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