{"id":537415,"date":"2023-01-08T21:38:53","date_gmt":"2023-01-08T18:38:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/manhattan-leasing-data-shows-dip-in-fourth-quarter-of-2022\/"},"modified":"2023-01-08T21:38:53","modified_gmt":"2023-01-08T18:38:53","slug":"manhattan-leasing-data-shows-dip-in-fourth-quarter-of-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/manhattan-leasing-data-shows-dip-in-fourth-quarter-of-2022\/","title":{"rendered":"#Manhattan leasing data shows dip in fourth quarter of 2022"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d253cd2573\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d253cd2573\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/manhattan-leasing-data-shows-dip-in-fourth-quarter-of-2022\/#%E2%80%9CManhattan_leasing_data_shows_dip_in_fourth_quarter_of_2022%E2%80%9D\" >&#8220;Manhattan leasing data shows dip in fourth quarter of 2022&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CManhattan_leasing_data_shows_dip_in_fourth_quarter_of_2022%E2%80%9D\"><\/span>&#8220;Manhattan leasing data shows dip in fourth quarter of 2022&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n            <\/aside>\n<p>There is good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, of a sort, for nervous Manhattan office landlords:<\/p>\n<p>Leasing for 2022 totaled 23.21 million square feet, up 14% over the year before, according to CBRE. But how couldn\u2019t it be, given the pandemic freeze of 2021?<\/p>\n<p>The\u00a0bad news: most\u00a0fourth-quarter data stunk. Availability was slightly higher at 19.2% than in the previous quarter, and 1.54 million more square feet were leased than vacated \u2014 \u201cnegative absorption\u201d \u2014 CBRE said. That\u2019s ominous, because fourth quarters often show better results as tenants and landlords scramble to finish deals.<\/p>\n<p>The Manhattan market \u201cwas impacted during the last quarter by tenants\u2019 hesitancy to make long-term decisions in light of an expected national economic slowdown,\u201d said Michael Slattery, CBRE\u2019s Associate Field Research Director.<\/p>\n<p>At least, he noted \u201cyear-to-date leasing activity was healthier than in 2021 when the pandemic was in full swing.\u201d Fourth-quarter availability was slightly less than the 19.6% recorded in both February and November of last year.<\/p>\n<p>Other highlights from CBRE:<\/p>\n<ul>\n<li>Midtown Q4 activity fell 30% behind the five-year quarterly average of 3.70 million sf. But full-year leasing of 14.81 million sf was up 15% over 2021.<\/li>\n<\/ul>\n<ul>\n<li>Midtown South leasing of 1.06 million sf was 37% lower than the five-year quarterly average of 1.26 million sf.<\/li>\n<\/ul>\n<ul>\n<li>Downtown leasing of 784,000 sf in the fourth\u00a0quarter was 25% lower than the five-year average of 1.05 million sf. On the brighter side, year-long leasing of 3.13 million sf was up 12% over 2021.<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/cuozzo-007.jpg?w=1024\" alt=\"Downtown was the only market with positive net absorption in the fourth quarter.\" class=\"wp-image-25284801\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/cuozzo-007.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/cuozzo-007.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/cuozzo-007.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Downtown was the only market with positive net absorption in the fourth quarter.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Downtown was the only market with positive net absorption in the fourth quarter. The net increase of 566,000 square feet brought the FiDi area\u2019s year-end total to 466,000 square feet.<\/p>\n<p>Other brokerages came up with different figures, although they\u00a0indicate the same mostly negative\u00a0trends. (The data differ because firms count different\u00a0building samples).<\/p>\n<p>Newmark cited total 2022 leasing of 32.9 million sf, up 15% over 2021. Colliers claimed 4Q leasing fell by 46.5% year over year to 4.94 million sf, reflecting the \u201csharpest quarterly drop in demand since Q2 2020.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2023\/01\/08\/manhattan-leasing-data-shows-dip-in-fourth-quarter-of-2022\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Manhattan leasing data shows dip in fourth quarter of 2022&#8221; There is good news, of a sort, for nervous Manhattan office landlords: Leasing for 2022 totaled 23.21 million square feet, up 14% over the year before, according to CBRE. But how couldn\u2019t it be, given the pandemic freeze of 2021? The\u00a0bad news: most\u00a0fourth-quarter data stunk&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":537416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/cuozzo-010.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[138177,73947,111576,73218,75389],"class_list":["post-537415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-8-23","tag-landlords","tag-leases","tag-office-buildings","tag-realty-check"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=537415"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/537416"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=537415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=537415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=537415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}