NEW YORK CITY—Last year, 34 of the 50 largest office leases were located in Midtown. This was down from 37 leases from the year before but up 21% to 10.2 million square feet of space. Based on square feet, Midtown accounted for approximately 72% of the leasing activity.
The West Side of Manhattan, led by Sixth Avenue, saw strong leasing, comprising 29 of the 50 largest leases. Sixth Avenue ranked first among all locations in Manhattan for the second year, accounting for 10 of the 50 largest leases, totaling 3.27 million square feet. That was up about 42% from the 2.31 million square feet in 2016.
The Avenue of the Americas Association (named after the passage locals still call Sixth Avenue) and Rockefeller Group, admittedly both Midtown organizations, authored the second annual Avenue Report, using office leasing data compiled by CoStar.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
