Manhattan posted its strongest quarterly office leasing volume since year-end 2019 in the third quarter with a 26% increase to end the quarter at 9.23 million square feet, according to Colliers.

Year-to-date leasing volume totaled 24.17 million square feet, a nearly 50% increase over the 16.34 million square feet leased during the same period in 2021 and Colliers expert say that if leasing volume were to continue at the same pace for the remainder of the year, 2022's full-year leasing volume would surpass 2021's full-year total (24.96 million square feet) by 29.1%. Net absorption clocked in at a positive 4.13 million square feet.

Midtown's leasing volume jumped by more than one-third over the previous quarter, while demand also increased by 46.2% year over year. YTD 2022 leasing volume, at 11.57 million square feet, was 42.3% higher than YTD 2021 activity. The largest leases included Datadog's 331,000 sq. ft. renewal and expansion at 620 Eighth Avenue, Indeed's 247,000 sq. ft. renewal and expansion at 1120 Avenue of the Americas and Katz Media Group's 227,000 sq. ft. renewal at 125 West 55th Street.