When Hudson Yards opened in the middle of March 2019, roughly 82 percent of the 8.9 million square feet of office space at the megaproject was already spoken for. And that high level of occupancy at Hudson Yards — the joint baby of the Related Companies and Oxford Properties Group — speaks to the strength of the rest of the Manhattan market.
The market was buoyed not just by deals at large new office complexes like Hudson Yards and the World Trade Center but also by transactions at more established towers with companies like Bloomberg and Facebook.
Amid that landscape, The Real Deal presented our annual Manhattan office leasing ranking, which looks at which firms brokered the most square footage of space for all of 2018. To tally the numbers — which included both landlord- and tenant-side deals as well as new leases and renewals — we culled all of the transactions from our own monthly Deal Sheet, scoured news reports and reviewed thousands of leases submitted by firms.
CBRE once again topped TRD’s ranking, inking about 14.9 million square feet of deals in Manhattan. That was down from about 16.6 million in 2017. Cushman & Wakefield took the No. 2 spot, locking up 11.2 million square feet (down from 12 million), followed by JLL at 8.2 million square feet (up from 6.4 million). Rounding out the top five were Newmark Knight Frank, which brokered 5.4 million square feet (up from 4.6 million) and Savills with 4 million (up about 300,000 square feet).
Ranking the firms that brokered the highest volume of deals in Manhattan in 2018
|Rank||Firm||Total Sq. Ft. Leased||Total No. of Deals||Sq. Ft. for Landlord Deals||Sq. Ft. for Tenant Deals|
|2||Cushman & Wakefield||11.2M||361||4.6M||7.1M|
|4||Newmark Knight Frank||5.4M||110||3.1M||2.6M|
|7||Adams & Company||1M||177||934,872||697,864|
|9||ABS Partners Real Estate||474,923||85||474,923||39,678|
|10||Lee & Associates NYC||409,582||72||84,839||333,150|
|14||Prime Manhattan Realty||166,110||43||31,154||157,347|
|15||Winick Realty Group||125,426||4||13,426||114,450|