Colliers: Manhattan Office Leasing Volume Decreases in April

In April, leasing volume in Manhattan decreased by 7.7% from the prior month and 43.9% from the previous year, according to Colliers’ April Manhattan Office Report. This drop in demand resulted in an increase of 0.3 percentage points to 17.4%, matching February 2022’s record high for availability rate. Negative absorption during this period totaled 1.35 million square feet while available supply rose 74