Office leasing activity in Manhattan was tepid in November, as overall leasing volume dipped to 2.13M SF, a drop of nearly 18% from October's total of 2.6M SF.
Driving the downturn in overall volume was a plunge in activity in the Downtown submarket, which dropped to 108K SF from October's total of nearly 776K SF. According to Colliers' new monthly snapshot for Manhattan office market.
Leasing activity in Midtown and Midtown South actually notched modest increases in November, growing to 1.09M SF and 938K SF, respectively, from October's tallies of 985K SF and 835K SF.
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