Leasing activity is increasing in a big way in Manhattan, according to Avison Young's Third Quarter Office Market Report.
Overall, the higher levels of availability from the past few quarters are falling, and in Q3, Manhattan registered its first quarter-over-quarter decrease of 2022, by 18.4%, signaling stronger occupancy.
Large transactions also continue to bolster its leasing activity, with 33 deals over 100,000-square-feet (sf) have been signed between Q1 and Q3. There were 20 in total in 2021.
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