At 7.57 MSF, Manhattan’s first quarter leasing activity dropped 22.5% since 4Q 2017, according to Colliers International. Year-over-year, leasing was down by 17.8%. Last quarter, Manhattan leasing activity fell 18.9% below the five-year first quarter average, but 3.3% above the same ten-year average. Deals by FIRE (financial services, insurance and real estate) tenants led leasing by industry sector last quarter with a 45% share. Leasing by TAMI (technology, advertising, media and information services) companies trailed considerably at 23%. Job creation remains strong. From February 2017 to February 2018, New York City added 74,700 new private sector jobs, a 2.0% yearly increase. New York Ci
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