Manhattan office leasing activity hit its highest level since 2000, with tenants signing new deals for more than 30 million square feet, executives at commercial firm Cushman & Wakefield said this morning at the company’s quarterly media briefing in Midtown.

Only four months ago, as the velocity of office leasing slowed in the third quarter, there were “warning signs,” that the market, while healthy, might weaken, said  Joseph Harbert, COO of Cushman’s New York metro region, during the third-quarter market briefing. But instead, it improved in the fourth quarter. [more]

Asking rents for Manhattan office space remain muted even as tenants have
inked deals for more space over the past six months than any time in more than
a decade.
For all types of Manhattan office buildings, average asking rents were up only
2 percent in the second quarter of 2011 compared with the same period a year
ago, or $1.21 per square foot to $55.52 per square foot, figures released by
Cushman & Wakefield today at its quarterly media briefing in Midtown, show…. [more]