Manhattan Q4 office leasing was strongest in 6 years
CNBC••business
Key Points:
- Manhattan office leasing surged in Q4 2025, increasing over 25% from Q3 to 11.87 million square feet, driven by return-to-office trends and tech hiring, especially in AI, according to Colliers.
- Leasing demand in 2025 was 16% higher year-over-year and close to 52% above the five-year quarterly average, marking the strongest annual leasing volume since 2019.
- Supply of available office space remains 37% higher than pre-pandemic levels but has tightened since its peak in early 2024, contributing to a 1.5% rise in average asking rents to $76 per square foot in Q4.
- There is a continued flight to quality,
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