Recent reporting indicates that Manhattan’s office market posted stronger leasing activity in March 2026, but the improvement was uneven. Coverage in The Real Deal described a rally concentrated around a handful of large leases rather than broad-based demand across the borough.

That concentration showed up at the asset level as well. The Real Deal’s coverage of a high‑profile transaction involving Stefan Soloviev noted a new rent benchmark in Manhattan, underscoring that pricing momentum is tied to select properties and specific deals.

At the same time, state-level economic development reporting points to targeted corporate expansion as a distinct source of strength: Empire State Development announced that Coinbase will expand in New York City, creating more than 600 high‑tech jobs and generating over $750 million annually in research and development, a sizeable and focused infusion for the local tech ecosystem.

Market roundups and coverage reviewed alongside those stories suggest financing and tenant demand remain selective—active for marquee buildings, large-credit tenants and headline transactions, thin elsewhere. In short, March’s strongest business signals are real but concentrated in a limited number of tenants, assets and transactions rather than signaling a broad market recovery.

Editorial Transparency. A first draft of this story was produced with AI-assisted writing tools, then reviewed for accuracy and tone by the named editor before publication. More on our process: Editorial Policy.
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