Manhattan office leasing surges as amenity-rich towers lure workers back
In the first nine months of 2025, Manhattan businesses secured 23.2 million square feet of office space, marking the highest leasing activity since 2006, as reported by CBRE. This rebound in New York surpasses the national trend, where leasing remains 11 percent below pre-pandemic figures. Despite this growth, Manhattan's office vacancy rate stands at 14 percent, nearly double the 8.2 percent recorded in late 2019, with many older structures considered outdated. The new JPMorgan Chase building at 270 Park offers extensive amenities, while The Spiral in Hudson Yards features terraces that create a vertical landscape, alongside two restaurants by chef Gabriel Kreuther. According to the Gensler Research Institute's Global Workplace Survey 2025, the primary reason people visit the office is for social interaction rather than amenities.
Key facts
- Manhattan leased 23.2 million square feet of office space in first nine months of 2025, highest since 2006.
- National office leasing still 11% below pre-pandemic norms.
- Manhattan office vacancy rate is 14%, nearly double the 8.2% at end of 2019.
- JPMorgan Chase building at 270 Park, designed by Foster + Partners, includes meditation studios, nap rooms, IV-drip stations, cold-plunge baths, pilates reformers, recovery pods, and a 38,000-square-foot fitness center with two swimming pools.
- The Spiral, by Bjarke Ingels Group, has terraces wrapping the facade; French chef Gabriel Kreuther opened two restaurants there.
- 70 Hudson Yards, designed by Gensler with interiors by INC, will include therapy rooms, hydration clinic, meditation alcoves, medical suite, and podcasting studio.
- Gensler Research Institute's Global Workplace Survey 2025 found people come to office to meet and socialize, not for amenities.
- Under a Tree, led by Amy McDonald, advises on programming to activate spaces.
Entities
Artists
- Bjarke Ingels
- Gabriel Kreuther
- Amanda Carroll
- Adam Rolston
- Amy McDonald
- Michael Pratt
Institutions
- CBRE
- CoStar
- Foster + Partners
- JPMorgan Chase
- Gensler
- Gensler Research Institute
- Bjarke Ingels Group
- INC
- Under a Tree
- Boston College
Locations
- Manhattan
- New York
- United States
- 270 Park
- Hudson Yards
- The Spiral
- 70 Hudson Yards
- Nolita