The Manhattan office market experienced a watershed year in its post-pandemic recovery. Leasing volume reached a six-year high in 2025, while availability fell to its lowest level since November 2020.

In 2025, Manhattan office leasing volume reached a six-year high, marking a watershed moment in the market’s post-pandemic recovery.

Bulk industrial occupancies surged in 2025, driven by stronger leasing, build-to-suit projects, and major manufacturing facilities, though elevated move-outs tempered overall net absorption growth.