Manhattan on Track to Have Lowest Leasing Year So Far This Century
Year over year leasing activity decreased by 20.9% and August 2020 leasing in Manhattan was 63.7% lower than the monthly average in 2019.
September 8, 2020 | Dan Clark | GlobeSt.com
Leasing activity in Manhattan was at 1.30 million square feet in August, which is nearly less than half of what it is was in July, according to a report by Colliers International.
The report shows that the year over year leasing activity decreased by 20.9% and August 2020 leasing in Manhattan was 63.7% lower than the monthly average in 2019.
“If leasing volume continues at the same rate for the remainder of the year, 2020 would end up with the lowest full-year leasing volume so far this century,” the report states.
