New York
NEW YORK CITY- Manhattan office leasing has cooled this past quarter with a slowdown in leasing activity, and high negative net absorption in the Midtown market, its highest since 2009, according to a recent Transwestern data report.
For the third quarter, Manhattan leasing activity totaled 5.7 million square feet, bringing the year-to-date total to 21.2 million square feet, down 12% from the same period last year. Manhattan office saw a negative 1.7 million square feet net absorption, whereas Midtown Manhattan saw a negative 2.1 million square feet of net absorption, its highest since 2009.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
