Stephens_Presentation_Flipping Book

OFFICE-USING EMPLOYMENT

2019 NEW LEASING | MIDTOWN

157,600 jobs higher than the previous peak

16.1 msf

1.45M

1.29M

Annual Average: 17.3 msf

2001

2019

• Office-using employment has grown faster in New York City than the nation as a whole • Since February 2010, office-using employment has increased 24.9% in NYC

• Midtown new leasing bounced back in October led by five leases greater than 100,000 sf • However, year-to-date new leasing remains 16.0% lower than one year ago

Cushman & Wakefield | 11