The Real Deal New York

The top 10 Manhattan office leases in January

Group M lease in Lower Manhattan was largest last month

February 17, 2016 03:00PM
By Reginald Barley, Jr.

January’s top 10 office leases spanned 919,480 square feet of space, with an average lease size of about 91,000 square feet, according to a TRData analysis of CoStar Group information, for deals with known tenants. 

The top transactions were nearly split between Midtown and Downtown, but Midtown saw the most activity with six of the top 10. The month’s largest lease deal transpired Downtown, however, with media investment firm Group M taking 173,536 square feet at 3 World Trade Center. CBRE represented Group M on the deal, while Jeremy Moss was the in-house rep for landlord Silverstein Properties.

On the tenant representation side, CBRE TRData LogoTINY led all firms with five clients leasing a total of more than 511,000 square feet. For landlord representations, JLL took top billing with two deals totaling just over 160,00 square feet.

SL Green Realty was the landlord on two leases; one for ad agency Omnicom at 220 East 42nd Street and a renewal at music television production company Music Choice at 304-328 West 34th Street, for a combined 219,962 square feet leased.

According to a report from Colliers International, leasing activity was up more than 13 percent borough-wide in January, although Midtown lease transactions declined 7.6 percent from December totals.

To see the full top 10 lease ranking on TRData, click here.