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Research - JUNE 14, 2019

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Downtown Manhattan office market records 2m-sf of leasing activity

by Kali Persall

The downtown Manhattan office market saw 2 million square feet of leasing activity for the quarter ending March 31, according to a new report by Infabode.

Healthcare and the finance, insurance and real estate sector accounted for more than 50 percent of leasing activity.

Eight new leasing transactions exceeding 50,000 square feet were recorded, and three surpassing 100,000 square feet. These transactions included the NYC Health + Hospitals’ 526,000-square-foot lease at 7 Hanover Square, WeWork’s 201,000-square-foot lease at 199 Water St., and Hudson River Trading’s 136,000-square-foot lease at 3 World Trade Center.

The office market was the only market in Manhattan to witness a quarter-over-quarter increase.

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