These were Manhattan’s 25 biggest office tenants in 2016

WeWork takes No. 11 in ranking dominated by public sector, big banks

TRD New York /
Jan.January 25, 2017 05:25 PM

Adam Neumann and WeWork are still outside Manhattan’s Top 10 office tenants club(Credit: Getty Images)

WeWork added hundreds of thousands of square feet worth of new Manhattan leases in 2016, but the tenant du jour is still knocking on the door outside the borough’s Big 10 club.

The $16.9 billion startup signed its share of big deals last year, including a lease for 122,000 square feet at 2 Herald Square and 100,000 square feet worth of leases at 135 East 57th Street.

Manhattan's biggest office tenants, by sf occupied
RankTenantSF
1New York City8.52 million
2Citigroup4.25 million
3JPMorgan Chase4.16 million
4Morgan Stanley4.09 million
5New York state (includes Port Authority )3.32 million
6Bank of America3.29 million
7United Nations2.55 million
8Credit Suisse2.48 million
9Metropolitan Transportation Authority2.29 million
10Viacom2.28 million
11WeWork2.12 million
12Goldman Sachs1.99 million
13Bloomberg L.P.1.89 million
14U.S. Federal Government1.87 million
15Time Warner1.83 million
16Deutsche Bank1.75 million
17NBC Universal/Comcast1.59 million
18Bank of New York Mellon1.58 million
19CBS Corporation1.57 million
20Barclays Capital1.52 million
21Conde Nast1.28 million
22American Express1.19 million
23 (tie)Consolidated Edison1.18 million
23 (tie)Ralph Lauren1.18 million
25Google/Alphabet1.17 million
Source: CoStar ranking of Manhattan office tenants based on the total occupied square footage of a parent company, including all of the space occupied by its subsidiaries. In the case of a sublet, the space is credited to the occupier, not the sublessor.

But with 2.1 million square feet occupied in Manhattan, WeWork ranks as the borough’s 11th largest office tenant, just on the outs of a club dominated by the public sector and big banks, according to an analysis by The Real Deal of CoStar data. All told, Manhattan’s 25 largest office tenants occupy 61 million square feet.

City Hall remains as the largest tenant with 8.5 million square feet, and big banks like Citigroup, JPMorgan Chase and Morgan Stanley sit atop the mountain.

Industry observers are watching the Trump administration closely for signs about how his stance toward financial deregulation could affect the real estate needs of big banks and other large space-users.

The U.S. Federal government leases 1.87 million square feet in Manhattan.


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