The Real Deal New York

Scorecard: Office leasing activity up, but rent down in Manhattan to start 2017

By Adam Pincus | March 22, 2017 08:00AM

From the March issue: Leasing activity in Midtown rose in January, buoyed partly by two large deals on Sixth Avenue, data from CBRE showed.

The deals were both at 1211 Sixth Avenue, where 21st Century Fox America took 767,885 square feet and News Corp. took another 443,586. Still, the availability rate remained at at 11.8 percent in the area.

In Midtown South, meanwhile, tenants inked leases for a total of 440,000 square feet, just 10,000 more than the month prior but up sharply from the 230,000 square feet leased in the same month a year ago.

Midtown South’s largest January lease was for 78,000 square feet by Capital One at 11 West 19th Street. The largest new available space to hit the market in the area was 164,000 square feet in a new construction project at 512 West 22nd Street.