Manhattan office leasing has declined 39% YoY over the last two months , down 39% since 2014 , according to data from CoStar Group . Between 1 July and 2014 leases covering 5 million sq sq ft were signed, down from 5 million sq ft YoY for 2014 and 6.2 million YoY in 2015 . The president of office landlord, Boston Properties , said that smaller companies have been slower to make decisions on new space. However, WeWork continues to sign new leases, particularly in Manhattan 's most expensive office market, the Plaza District , where it recently signed a lease for 159,300 sq ft.
Manhattan office leasing has declined 23% YoY over the last two months, down 39% since 2014, according to data from CoStar Group. Between 1 July and 24 August leases covering 3.4 million sq ft were signed, down from 5 million sq ft YoY for 2015 and 6.2 million YoY in 2014. The president of office landlord, Boston Properties, said that smaller companies have been slower to make decisions on new space. However, WeWork continues to sign new leases, particularly in Manhattan's most expensive office market, the Plaza District, where it recently signed a lease for 159,300 sq ft.