Manhattan Office Leasing Jumps 54.1% in October
Manhattan office leasing accelerated in October 2026, with volume up 54.1% from September and 24.7% from a year earlier. Commercial Observer reported on November 2 that Colliers’ latest monthly figures also showed less space available and a higher average asking rent.
Manhattan Office Leasing: October 2026 Figures
October 2026 Metric | Colliers Figure |
Leasing volume · month over month | +54.1% |
Leasing volume · year over year | +24.7% |
Availability rate | 12.3% |
Average asking rent | $79.47 / SF / year |
The availability rate measures space being marketed for lease. The rent figure is an asking rent, quoted annually per square foot.
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Tenant Commitments Support the Market’s Momentum
Midtown led October activity with about 2.4 million square feet leased, followed by Midtown South at about 1.5 million square feet. Colliers identified large commitments from Citadel, Ramp, Seward & Kissel and Morrison & Foerster among the month’s drivers.
That broader activity builds on a strong third quarter: Colliers’ Q3 report recorded four consecutive quarters with more than 10 million square feet of Manhattan office leasing. Our recent coverage of Ramp’s Flatiron expansion offers one example of the tenant decisions behind these market totals.
Taken together, higher leasing activity and declining availability provide documented evidence of demand for Manhattan office space. They offer useful context for examining how businesses are committing to New York locations.
EB-5 Investor Insight & ARCFE View
When reviewing an EB-5 project, match market data to the property type, location and intended customers. Comparable leases or sales provide a more useful basis for reviewing a project’s demand assumptions.
ARCFE was founded by iCross Capital, a New York City real estate credit institution with nearly 20 years of experience. We connect location, target customers and documented market activity when reviewing project demand.
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Disclaimer: Articles published under the "NYC Real Estate" category are curated from third-party media sources for informational purposes only. ARCFE does not claim ownership of the original content, nor does it guarantee the accuracy, completeness, or timeliness of the information presented. The views and opinions expressed in these articles are those of the original authors and do not necessarily reflect the position of ARCFE. Nothing contained herein constitutes investment, legal, or tax advice. Readers are encouraged to consult with qualified professionals before making any investment decisions.
