Manhattan Office Market Surges in May

Manhattan’s office market exploded in May, with tenants snapping up 4.2 million sq ft—up 17% from April and 35% year-over-year. Big leases like Simpson Thacher’s 916K sq ft in Midtown and Google’s renewal are fueling a historic surge, pushing vacancy down to 13.2% and rents to a 2022 high of $77.76/sq ft. Midtown led the charge, while even Midtown South outperformed its decade average. 2026 could be the strongest office year since 2000. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/6ef7e3bc6267bf6c