New York businesses are leasing more office space than they have in nearly a decade

Office work is officially back from the dead—if New York is any indication, that is. In Manhattan, businesses are leasing more office space than they have in close to a decade, in a sign that the return-to-office movement is likely to stick around.

According to real estate investor CBRE, during the first nine months of 2025, Manhattan businesses leased 23.2 million square feet of office space, the most since 2006. Leasing has already surpassed last year’s total, with 143 leases at more than $100 per square foot. However, as the epicenter of business, New York City is an outlier: Nationally, leasing is still around 11% below the pre-COVID average.

Unsurprisingly, financial firms, as well as tech, media, and advertising companies, are driving the surge with major deals. In April, Deloitte