Manhattan office leasing demand has returned to pre-pandemic levels despite remote work becoming more popular since then.

A recent report from Savills analyzed the performance of the city for the asset class in the third quarter. Leasing velocity at 9.5 million square feet was the strongest quarterly volume since the three months ending December 2019. That's nearly a five-year high.

Also, Savills said: "Leasing volume now totals 25.0 msf through the first three quarters of the year, putting Manhattan on track for its strongest leasing year post the start of the pandemic."

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