Manhattan Office Leasing Surges to Two-Decade High, AI Drives Uptick
Manhattan office leasing climbed to 11.02 million sq ft in Q2, 29.4% above the 5-year average and 31.3% above the 10-year average, signaling the strongest demand in more than two decades for the first half of the year, with AI leasing reaching 800k sq ft in Q2, the largest quarterly AI-only increase and surpassing all AI leasing in Manhattan for 2025.