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AI Firms Drive Manhattan Office Leasing Rebound
6.1
AI firms are fueling a rebound in Manhattan office leasing, which hit 42.9 million square feet last year, with tenants like OpenAI (≈90,000 sq ft), EliseAI (≈109,000 sq ft) and Harvey AI (≈185,000 sq ft) taking major space. Bloomberg and Savills report AI tenants added about 1.0 million square feet in 2025 and target another 1.4 million, lifting asking rents 2.8% to $77.57 per square foot.
Key Points
- 1Occupancy: AI tenants added roughly 1.0 million square feet in 2025, contributing to 42.9M total leasing.
- 2Concentrates demand in premium assets, with tech taking trophy Midtown South space while older stock lags.
- 3Expect higher rents and fierce competition for amenity-rich office space, altering leasing strategies for firms.
Scoring Rationale
Data-driven, reputable reporting shows notable leasing rebound; limited by city-specific focus and few technical AI implications.
Sources
Public references used for this report.
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