How did office leasing in Manhattan close out 2018? With a resounding bang, according to the Cushman & Wakefield’s New York City research. New leasing reached a record high with the 35.9 msf of new leases signed in 2018 shattering the previous high-mark of 32.8 msf in 2014. In addition, although Manhattan vacancy increased 40 bps in 2018 to 9.2%, this was down from 9.7% in August thanks to the strongest quarterly new leasing on record in Q4 2018.
Be on the lookout for more editions of Five Fast Facts from Cushman & Wakefield’s Tri-State Research team each month. You can download the pictured graphic by clicking here.