Strong demand supports rent growth

Manhattan office leasing totaled 10.3 million square feet (msf) in Q3 2026, down 4.7% from Q2 and 2.8% year over year but still above the 2015-2019 quarterly average. Year-to-date leasing activity reached 33.5 msf, up 5.6% from the same period last year, keeping 2026 on pace for another strong year. Technology, advertising, media and information (TAMI) and legal services tenants led demand. Proskauer Rose renewed and expanded to 478,000 square feet (sf) at 11 Times Square, while Anthropic committed to 465,630 sf at 330 Hudson Street, and SoFi leased 45,626 square feet at 860 Washington Street. Major commitments from Havas Health, NBCUniversal, Morgan Lewis and Snap reinforced demand across Midtown and Midtown South.

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