Manhattan’s office market is finding its groove again.

Since the coronavirus pandemic, leasing volumes have surged to levels not seen in years.

New data from Colliers shows that tenants signed 3.7 million square feet of deals in August — a leap of more than 20% from July and well above the city’s 10-year monthly average.

At this pace, 2025 could close with more than 40 million square feet of commitments, a milestone last achieved in 2019. 6

6

For Franklin Wallach, executive managing director at Colliers, the momentum speaks for itself.

“That is a very strong market in terms of demand,” he told CNBC in an interview . 6

Driving the surge are factors ranging from low unemployment to renewed interest from industries that slowed during the pandemic.

“Certainly a return to

See Full Page