Key Takeaways
- • Manhattan office leasing reached 6.9 million square feet in Q3 2026, bringing year-to-date volume to 25.7 million square feet, exceeding 2025's comparable period pace of 25.1 million square feet through Q3.
- • Tech and law firms drove quarterly activity, with Anthropic securing 462,000 square feet at 330 Hudson Street, Snapchat subleasing 199,000 square feet at 2 Penn Plaza, Proskauer Rose renewing 413,000 square feet at 11 Times Square, and Morgan Lewis renewing 205,000 square feet at 345 Park Avenue.
- • Broad-based leasing momentum across major industries indicates sustained institutional tenant demand in Manhattan's office market heading into Q4 2026.
Summary
Manhattan's office leasing market maintained accelerating momentum through the third quarter of 2026, according to JLL's October report. Third-quarter leasing activity totaled 6.9 million square feet, positioning the market ahead of 2025's pace when year-to-date volume through Q3 reached 25.1 million square feet. With 25.7 million square feet leased through the same period in 2026, the market has already surpassed the prior year's comparable timeframe.
The quarter was characterized by significant activity from technology and professional services firms. Anthropic executed the largest transaction, relocating and expanding to 462,000 square feet at 330 Hudson Street. Snapchat completed a 199,000-square-foot sublease repositioning to 2 Penn Plaza, while leading law firms demonstrated renewed confidence in Manhattan's Class A stock. Proskauer Rose renewed its 413,000-square-foot footprint at 11 Times Square, and Morgan Lewis committed to a 205,000-square-foot renewal at 345 Park Avenue.
The breadth of activity across multiple sectors and tenant sizes underscores sustained institutional demand in Manhattan's office market, with both expansion and renewal activity contributing to the year-to-date volume outperformance relative to 2025.
The quarter was characterized by significant activity from technology and professional services firms. Anthropic executed the largest transaction, relocating and expanding to 462,000 square feet at 330 Hudson Street. Snapchat completed a 199,000-square-foot sublease repositioning to 2 Penn Plaza, while leading law firms demonstrated renewed confidence in Manhattan's Class A stock. Proskauer Rose renewed its 413,000-square-foot footprint at 11 Times Square, and Morgan Lewis committed to a 205,000-square-foot renewal at 345 Park Avenue.
The breadth of activity across multiple sectors and tenant sizes underscores sustained institutional demand in Manhattan's office market, with both expansion and renewal activity contributing to the year-to-date volume outperformance relative to 2025.
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