These were Manhattan’s 25 biggest office tenants in 2016

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

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

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.


Related Articles

arrow_forward_ios
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
WeWork’s side businesses are fizzling
WeWork’s side businesses are fizzling
Sarah Pontius (Credit: Union College)
Another head rolls at WeWork
Another head rolls at WeWork
117 Northeast First Avenue (Getty, Gut Miami via Twitter)
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
Lender sues owners of downtown Miami WeWork building over allegedly unpaid loan
From left: Knotel’s Amol Sarva; Breather’s Bryan Murphy; WeWork’s Sandeep Mathrani and IWG’s Mark Dixon
Seismic shifts in the flex-office market
Seismic shifts in the flex-office market
From left:  Joseph Chetrit, 404 Fifth Avenue and WeWork CEO Sandeep Mathrani (Photos via Wikipedia Commons; Google Maps)
WeWork battles Chetrit Group over Midtown lease
WeWork battles Chetrit Group over Midtown lease
Warburg Realty's Clelia Warburg, Breather's Brian Murphy and InstaClosing's Peter Zinkovetsky (iStock)
Proptech’s winners and losers in 2020
Proptech’s winners and losers in 2020
Katerra CEO; SoftBank CEO Masayoshi Son and Katerra CEO Paal Kibsgaard (Photos via Katerra; Getty; iStock)
SoftBank bails out Katerra with $200M cash injection
SoftBank bails out Katerra with $200M cash injection
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...