Manhattan Office Recovery: What Tenants Want in 2026

The Manhattan office recovery is leading the nation, with office foot traffic now only 5.5% lower than pre-pandemic levels. In a new Bisnow Studio B feature, Lee & Associates examines what’s driving the rebound — and what tenants and landlords are doing to capitalize on it. The Manhattan office recovery has pushed Q4 vacancy to a five-year low of 13.9%, with 10M SF leased in the quarter alone.

Bisnow Studio B: Manhattan Office Recovery Reshapes Tenant & Landlord Strategy

Lee & Associates Principals and Executive Managing Directors Dennis Someck and Justin Myers were featured in a Bisnow Studio B piece exploring the surprising speed of Manhattan’s office rebound. With Q4 leasing topping 10M SF and vacancy dropping to a five-year low of 13.9%, the conversation has shifted from “if” tenants will return to how landlords can keep them.

“No one expected New York to rebound as quickly as it has,” Someck told Bisnow. “If you looked at this six or eight months ago, no one would have thought this is what would happen.”

Myers noted that the scarcity of Class-A and A-plus space is now pushing tenants into renovated Class-B buildings, while finance firms gravitate toward Midtown, Hudson Yards, and Grand Central, and AI companies favor NoMad, Flatiron, and SoHo.

🔗 Read the full feature on Bisnow: New York Office Is On An Upswing. What Are Companies Looking For, And How Can Landlords Keep Them?