Manhattan Office Leasing Hits 11.02 Million Sq Ft in Q2, Strongest in 20 Years
Updated
Updated · CNBC · Jul 8
Manhattan Office Leasing Hits 11.02 Million Sq Ft in Q2, Strongest in 20 Years
1 articles · Updated · CNBC · Jul 8
Summary
11.02 million square feet of Manhattan office leases were signed in the second quarter, marking the borough’s strongest quarterly leasing volume in 20 years, according to Colliers.
That total ran 29.4% above the five-year quarterly average and 31.3% above the 10-year average, extending a broader rebound in tenant demand.
800,000 square feet of AI-related leases were signed in Q2, up from 700,000 in the prior quarter and already exceeding all Manhattan AI leasing recorded in 2025.
For the first half overall, Colliers said Manhattan office demand reached its strongest level in more than two decades, underscoring AI’s growing role in the market’s recovery.