{"id":447176,"date":"2025-12-14T20:31:26","date_gmt":"2025-12-14T20:31:26","guid":{"rendered":"https:\/\/www.europesays.com\/us\/447176\/"},"modified":"2025-12-14T20:31:26","modified_gmt":"2025-12-14T20:31:26","slug":"downtown-nyc-finally-seeing-uptick-in-leases","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/447176\/","title":{"rendered":"Downtown NYC finally seeing uptick in leases"},"content":{"rendered":"<p>The Manhattan office-leasing surge that\u2019s mostly been concentrated in Midtown is finally helping to lift the boat downtown.<\/p>\n<p>JLL reports that leasing volume and\u00a0rents across the district\u2019s 95.6 million square feet increased noticeably\u00a0in the third quarter over the same period last year. <\/p>\n<p><img style=\"aspect-ratio:1.49926794;display:block\" fetchpriority=\"high\" decoding=\"async\" data-modal-image=\"37926694\" width=\"885\" height=\"590\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/12\/view-downtown-manhattan-skyline-one-117234485.jpg\" alt=\"Downtown Manhattan skyline with One World Trade Center at the center.\" class=\"wp-image-37926694\"  \/>JLL reports that downtown leasing volume and\u00a0rents increased noticeably\u00a0in the third quarter from the same period last year.  Getty Images<\/p>\n<p>Vacancy fell a full percentage point to 23% while asking rents increased 3.1% to $59.56 per square foot. <\/p>\n<p>Michael Colacino, JLL\u2019s president of tristate brokerage, said, \u201cThe big story this month is Downtown\u2019s comeback, with activity nearly double last year\u2019s. All of this points to a market where acting early will matter, as rents rise and the best spaces get snapped up quickly.\u201d<\/p>\n<p><img loading=\"lazy\" style=\"aspect-ratio:1.49271137;display:block\" decoding=\"async\" data-modal-image=\"37926693\" width=\"881\" height=\"590\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/12\/55-water-street-ny-ny-117234461.jpg\" alt=\"The S&amp;P Global building at 55 Water Street in New York, NY.\" class=\"wp-image-37926693\"  \/>The largest deal downtown was for 55 Water St.  Google<\/p>\n<p>The largest deal was a direct lease for financial firm GFI Group for 112,783 square feet at\u00a0<a href=\"https:\/\/www.google.com\/maps\/search\/55+Water+Street?entry=gmail&amp;source=g\" target=\"_blank\" rel=\"noreferrer noopener\">55 Water St.<\/a>\u00a0\u2014 more than doubling its previous space in the tower.<\/p>\n<p>Of course, what downtown really wants is news of Larry Silverstein\u2019s talks with AmEx over a possible agreement to finally get 2 World Trade Center off the ground. Everyone with even the least awareness clams up nervously when asked about it. But after two previous non-binding agreements at the site fell through, don\u2019t expect to hear anything credible until a contract is signed with no escape clause.<\/p>\n","protected":false},"excerpt":{"rendered":"The Manhattan office-leasing surge that\u2019s mostly been concentrated in Midtown is finally helping to lift the boat downtown.&hellip;\n","protected":false},"author":3,"featured_media":447177,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,64,7236,7745,405,403,5226,5225,5228,5227,7746,4329,7747,67,586,132,5230,68,2969],"class_list":{"0":"post-447176","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-business","10":"tag-downtown","11":"tag-leases","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-office-buildings","19":"tag-real-estate","20":"tag-realty-check","21":"tag-united-states","22":"tag-united-states-of-america","23":"tag-unitedstates","24":"tag-unitedstatesofamerica","25":"tag-us","26":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115719825039782565","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/447176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=447176"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/447176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/447177"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=447176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=447176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=447176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}