According to Colliers, Manhattan office leasing volume reached 11.02 million square feet in Q2 2026, 29.4% above the five-year quarterly average and 31.3% above the ten-year average. Quarterly demand increased 19% year-over-year, and for the first time since 2002, leasing area exceeded 11 million square feet for three consecutive quarters. AI-related leasing surged to 800k square feet in Q2, up from 700k square feet in Q1, surpassing the total leasing of all AI companies in Manhattan in 2025. CoStar data shows that Class B office leasing grew 14% from pre-pandemic levels and 28% year-over-year, accounting for 45% of total leasing in the first half of 2026.