Lower Manhattan’s Office Leasing Totals Decline in Q2

According to the Q2 2022 report released by the Alliance for Downtown New York, office leasing square footage totals during the 2nd quarter in Lower Manhattan declined noticeably from the previous quarter, primarily due to a lack of large transactions, marking the second consecutive quarter during which leasing activity declined. In contrast, the retail and hotel markets in the neighborhood showed positive momentum as an increasing number of tourists returned to Lower Manhattan. The number of retail openings during the 2nd quarter, continued to outpace 2019 levels for the second consecutive quarter, the majority of the openings filling vacancies created during the pandemic.

Source:    https://downtownny.com/research/lower-manhattan-real-estate-overview-q2-2022/