Manhattan's October leasing activity dropped by 40% since September and by 41%, year-over-year, according to Colliers October 2022 Manhattan Office Report, the lowest monthly leasing total since May 2021.
The year-to-date leasing volume totaled 25.77 million square feet, a 35.4% increase over the 19.03 million square feet leased during the same period in 2021.
Of note, Manhattan's availability rate increased by 0.4 pp (percentage points) to 16.8%, the sharpest monthly gain since December 2021.
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