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Manhattan Monthly Snapshot August 2021

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With 2.45 million square feet leased in August, Manhattan activity increased – for the fifth consecutive month – by 3.9% since July and was nearly double the 1.30 million square feet leased one year ago. The August leasing total was also the strongest since January 2020 (3.56 million square feet). Yet, the year-to-date total (13.91 million square feet) was only slightly ahead of the year-to-date figure in 2020 (13.69 million square feet).

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Manhattan Monthly Snapshot August 2021

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Franklin Wallach

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New York

Franklin Wallach is a Senior Managing Director, Research at Colliers International. Franklin's role includes a focus on quarterly and monthly trends within the Manhattan and Brooklyn office markets while using multiple databases and maintaining contacts within the industry in order to provide in-depth market analysis to brokers and clients.

Franklin reports on the office market on a monthly and quarterly basis through analytical reports as well as presentations to tenants, landlords and the press. Data analyzed by Franklin includes: average asking rents, availability rates, concessions, absorption, tenants in the market, leasing activity, construction and future tenant demand. Franklin has been quoted by numerous New York City commercial real estate periodicals including The Real Deal and GlobeSt.com.

Franklin joined Colliers after working in CBRE's Lower Manhattan office as a Senior Research Analyst.

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