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Lower Manhattan’s office recovery picks up steam

Downtown market posts strongest leasing growth among borough’s business districts
Class A asking rents in Lower Manhattan are on average 40% lower than comparable stock in Midtown Manhattan, according to the Alliance for Downtown New York. (Getty Images)
Class A asking rents in Lower Manhattan are on average 40% lower than comparable stock in Midtown Manhattan, according to the Alliance for Downtown New York. (Getty Images)
CoStar News
August 18, 2026 | 11:23 P.M.

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Lower Manhattan's office market gained momentum in the second quarter, posting the strongest leasing growth among Manhattan's major business districts as top-tier rents reached a four-year high.

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