Manhattan 2024 leasing activity leads post-COVID recovery among major markets
Leasing activity, 2024 vs. pre-COVID averages (2015-2019)
- Despite national leasing activity remaining below pre-COVID averages, Manhattan has seen the most recovery among major office markets. In Manhattan, 2024 leasing activity was just 10% below pre-COVID levels. Meanwhile, major office markets like Washington D.C., Dallas and Atlanta are 20%, 21% and 21% below 2015-2019 activity, respectively.
- At 35.9 msf, 2024 leasing activity in Manhattan was up 17.2% from 2023, and was the highest value since 2019. This surge of activity in 2024 is why Manhattan is leading the way in recovery among major office markets.
January 29, 2025
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