Manhattan now has 16M sf of available office sublease space

A flood of new sublease space began hitting office markets nationwide over the summer, and New York was no exception. Sublease supply in Manhattan stood at 16.1 million square feet by the end of the third quarter, representing 27 percent of the borough’s total available office space, according to a new report from Savills. That’s a 47-percent increase year-over-year, far outpacing the 14-percent increase in direct space availability over the same period. “With many organizations

source https://therealdeal.com/2020/10/08/manhattan-now-has-16m-sf-of-available-office-sublease-space/