Leasing Activity in NYC by Life Sciences Sector Remained Strong in 2020

Despite the impact of the coronavirus pandemic, leasing activity by the Life Sciences sector reached its highest level since 2011 according to the February report. The total of about 156,000 square feet leased throughout 2020, of which 137,925 square feet was in Manhattan, is more than double that of 2019 as leasing activity picking up during the second half of the year. Similarly, New York City’s lab average asking rents continued to show strength, increasing 12% year-over-year.

Source:    https://f.tlcollect.com/fr2/821/29120/New_York_City_Life_Sciences_Report_YE_2020.pdf