Downtown office market

DOWNTOWN MANHATTAN HIT A RECORD LEASING YEAR IN 2019. Overall, the submarket saw 10.7 million square feet of space leased, the highest volume of leasing in over 10 years. Morgan Stanley’s 1.3 million-square-foot lease at One New York Plaza was the big- gest lease of the year. The New York City Health and Hospitals Corporation’s lease at 100 Pearl Street for roughly 530,000 square feet and the State of New York’s 523,000 square-foot lease at 60 Broad Street largely contributed to the benchmark year.

Source: Colliers International. Leasing activity includes both new leases and renewals.