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Trophy office buildings’ share of Manhattan leasing reaches highest level in decades

Market sees slew of large first-quarter deals
Manhattan’s first-quarter office leasing volume rose to 10.1 million square feet, the biggest first-quarter volume since 2018, according to Avison Young. (Andria Cheng/CoStar)
Manhattan’s first-quarter office leasing volume rose to 10.1 million square feet, the biggest first-quarter volume since 2018, according to Avison Young. (Andria Cheng/CoStar)
CoStar News
April 2, 2025 | 7:29 P.M.

Manhattan’s office leasing market, after having posted its best post-pandemic performance last year, is showing more signs of recovery, led by demand for top-tier trophy properties in the so-called flight-to-quality trend.

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