{"id":216966,"date":"2026-05-01T19:07:37","date_gmt":"2026-05-01T19:07:37","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/216966\/"},"modified":"2026-05-01T19:07:37","modified_gmt":"2026-05-01T19:07:37","slug":"midtown-south-dominates-april-leasing-activity","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/216966\/","title":{"rendered":"Midtown South Dominates April Leasing Activity"},"content":{"rendered":"

Midtown South stole the show in April, snapping up four of Manhattan\u2019s five largest office leases.<\/p>\n

The submarket accounted for nearly 45 percent of all leasing demand, with volume rising to 1.6 million square feet, according to a new Colliers report. That\u2019s 65 percent higher than the 10-year monthly average, per Colliers.\u00a0<\/p>\n

A handful of large deals drove the surge. AI-powered healthcare company Tennr inked a 125,000-square-foot sublease at 345 Hudson Street<\/a>, a building owned by Hines, Trinity Church Wall Street and Norges Bank, according to Colliers. It was unclear who the sublandlord was, but Google has been trying to sublease 165,000 square feet<\/a> at the building as it consolidates around St. John\u2019s Terminal.<\/p>\n

Trading platform Jump Trading signed a new 99,000-square-foot lease at Related Companies\u2019 50 Hudson Yards<\/a>, according to Colliers, and tech firm Sierra inked a 94,000-square-foot lease at Rockrose\u2019s 11 East 26th Street<\/a>. The leases could not immediately be confirmed with the landlords.<\/p>\n

Overall, tenants snapped up 3.6 million square feet of Manhattan office space in April, a steep 38 percent drop from March\u2019s blockbuster volume<\/a>. But demand was still 30 percent above the 10-year monthly average and nearly 7 percent higher than a year ago.<\/p>\n

The borough\u2019s availability rate dipped slightly from March to 13.4 percent. Total available space dropped to 69.9 million square feet, the lowest level since October 2020 and nearly 29 percent below the post-pandemic peak.<\/p>\n

Sublet space is also disappearing. Inventory shrank to 10.5 million square feet, down nearly 30 percent year-over-year and at its lowest level since 2019<\/p>\n

Downtown also punched above its weight. Leasing more than doubled from March to 851,000 square feet, fueled largely by law firm Cleary Gottlieb Steen & Hamilton\u2019s 475,000-square-foot new lease and relocation at Brookfield\u2019s One Liberty Plaza<\/a>. The details of the lease were unclear. In 2007, the law signed a 20-year lease<\/a> for 550,000 square feet.<\/p>\n

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Despite sluggish start, Manhattan office leasing rallies to strong quarter<\/p>\n

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Winter Organization snags pair of leases in Flatiron offices<\/p>\n

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Brookfield lands huge refi for 1 Liberty Plaza<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Midtown South stole the show in April, snapping up four of Manhattan\u2019s five largest office leases. The submarket…\n","protected":false},"author":2,"featured_media":216967,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[85541,75,84,83,9,24,63],"class_list":["post-216966","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-colliers-april-office-report","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/216966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=216966"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/216966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/216967"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=216966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=216966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=216966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}