Manhattan’s office leasing market continues its steady rebound. In April, tenants signed 3.38 million square feet of new leases—up 23% year over year—according to Colliers. While volume dipped from March, availability fell to 15.7%, the lowest since February 2021.

At this pace, leasing activity could hit 44.3 million square feet in 2025, the highest since 2000.

Despite economic headwinds, leasing activity is driven by tenants relocating and upgrading, signaling confidence in Manhattan’s long-term office outlook.

(source: The Real Deal, picture: Micheal Discenza)