October was yet another boffo month for Manhattan office leasing.
CBRE reported activity hit 3.46 million square feet, or 61% above the five-year monthly average. Asking rents rose to $81.61 per square foot, up 6% year-over-year.
Cushman & Wakefield had similar findings. It cited 26.6 million square feet leased through the first 10 months of this year, up 4.4% over the same period in 2026.
Cushman also found Manhattan’s sublease inventory fell to 9.9 million, the first single-digit availability since October 2019.
Both surveys cited Ken Griffin/Citadel’s 1.05 million square-foot deal at soon-to-rise 350 Park Ave. as the month’s 99-ton gorilla, while Ramp, Modal Labs and Morrison & Foerster all clocked in with 100,000-plus commitments.
