Over the last 25 years, roughly 32 million to 33 million square feet were leased in a given year for those clocking in at their 9-to-5s in Manhattan. The pandemic caused a 25 million deficit in office space being leased, according to the report. But since last year, leasing habits in the New York borough have returned to normal levels.
If demand continues at the same pace for the remainder of 2025, Manhattan’s office leasing could even top 40 million for the first time since 2019.
The $2.4 trillion giant’s office space alone makes up over a million square feet of Manhattan office space leased since November 2024.
