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Colliers: 2015 Was a Study in Contrasts

NEW YORK CITY—During its annual press briefing on the prior year, the real estate services firm provided some data points signaling continuing strength and others indicating the beginnings of a correction.

By Rayna Katz | Updated on January 13, 2016

NEW YORK CITY—Continuing the trend of mixed reports, Colliers International‘s press briefing—held Wednesday in Midotwn—on the Manhattan CRE market’s performance in 2015 featured some signs of continuing strength and others signaling the beginnings of a correction.

Leasing velocity in Manhattan office fell last year but still came in above the ten-year average, while asking rents rose for the 11th consecutive quarter and investment sales for office properties hit near-record trading volume, the firm reported. The year also brought about market role-reversals, with Downtown recording the largest annual drop in activity as Midtown posted its strongest leasing figures since 2003. 

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