Manhattan's offices are on track to be just as busy as pre-pandemic years as Wall Street and tech companies drag workers back to the office

Manhattan office leasing rose to 3.7 million square feet in August, a 20% increase from July and nearly 40% above the 10-year monthly average of 2.72 million. Tech firms such as Amazon, Google, Robinhood and others have tightened return-to-office rules to boost productivity, prompting wider in-person work mandates. Annual leasing historically ranged from 32 to 33 million square feet, and the pandemic created a 25 million square foot deficit. Leasing activity has returned to normal levels since last year, and continued demand could push 2025 leasing above 40 million square feet.

Tech's return-to-office push is breathing new life into New York City's once-struggling office market. Manhattan office leasing was up 20% in August compared with July at 3.7 million square feet. That was nearly 40% above the 10-year monthly average of 2.72 million, according to a new report from As companies across all industries push for workers to get back into the office, instead of working from their couch, tech leaders in particular have buckled down on RTO measures.

From San Francisco to New York, industry heavyweights like Google and Amazon have been demanding their workers return to the office-and it's having a ripple effect on the real estate market in major cities like New York. Over the last 25 years, roughly 32 million to 33 million square feet were leased in a given year for those clocking in at their 9-to-5s in Manhattan. The pandemic caused a 25 million deficit in office space being leased, according to the report. But since last year, leasing habits in the New York borough have returned to normal levels.

If demand continues at the same pace for the remainder of 2025, Manhattan's office leasing could even top 40 million for the first time since 2019. Amazon, Robinhood and JPMorgan push for RTO Members of the Magnificent 7- high performing tech companies in the U.S. stock market who include high performing stocks like Alphabet, Amazon, Apple and Meta are pushing employees back to the office in droves. Their reason? In-person work will boost productivity, bosses say.

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