Highlights from our Q3 2025 Manhattan Office Market Report:
- The diversified economy and the strength of its finance and tech sectors have helped the New York City office sector outperform any other major U.S. office market over the last two years.
- Virtually every submaket has seen the percentage of available office space decrease over the past four quarters.
- Positive net absorption over the last four quarters—coupled with a lack of new speculative development and residential conversions—has set the stage for a continued recovery.
- Sales volume has steadily improved over the last year, reaching the second-highest level since Q1 2022.