NEW YORK CITY—The Alliancefor Downtown New York reports that the commercial office,retail and multifamily markets in Lower Manhattan are off to astrong start in 2014.

The alliance's report for the first quarter released today notesthat commercial leasing in the first quarter was 18% higheryear-over-year and 44% higher than the five-year average. The fivelargest commercial leases recorded in the first quarter were:Macmillan Science and Education's176,121-square-foot relocation to 1 New York Plaza; Teachfor America's 172,744-square-foot lease at 25 Broadway;Amerigroup Corp.'s lease renewal of 165,029 squarefeet at 14 Wall St.; Allied World Insurance Co.'srenewal and expansion into 142,000 square feet of space at 199Water St., and the City of New York's leaserenewal of 94,896 at 80 Maiden Lane, which barely bestedRevlon's lease deal at 1 New York Plaza for 90,194square feet.

Investment sales in the office sector were brisk, particularlyalong Broadway, the report states. The New Year started off withWilliam Macklowe's purchase of 156 William St. for$62.5 million. Harbor Group later purchased 55Broadway for $157 million and REX Realty hasacquired 61 Broadway for $330 million.