Manhattan office leasing decline is double that of Great Recession

At the onset of the pandemic in March, few anticipated that Manhattan offices would remain mostly unoccupied deep into the fall. New data show just how bad: At this pace, leasing volume in 2020 will be 52 percent lower than the year before, according to Franklin Wallach, Colliers International’s senior managing director for New York research. That compares to a 26.9 percent plunge from 2007 to 2009 and a 14.1 percent decline after the 2001

source https://therealdeal.com/2020/11/03/manhattan-office-leasing-decline-is-double-that-of-great-recession/