Episode Details

Manhattan office rents are soaring to record highs, hitting $78.03 per sq ft—the highest since July 2020—as landlords cash in on shrinking supply and rebounding demand. With only 13% of space available—the ninth straight quarter of decline—prime Class A buildings dominate leasing, capturing nearly 70% of deals. Tech’s AI sector is a major force, leasing 800K sq ft in Q2 alone—more than the entire prior year. Meanwhile, investment activity stabilizes: 15 deals totaling $1.4B, matching last year’s volume, even as median prices dip slightly.

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