Selective Strength: Office leasing, lending caution and Coinbase hiring shaped New York’s market

As markets moved into March, New York’s top business headlines were easy to spot but narrow in reach: a reported rally in Manhattan office leasing; cautious financing conditions; and a single large corporate expansion promise that concentrated hiring in tech.

The Real Deal reported that Manhattan office leasing rallied to a strong quarter, signaling demand recovery in key Central Business District assets even as activity did not spread evenly across all office stock.

Industry roundups and market commentary noted lending remained disciplined and selective, shaping which deals could advance and reinforcing that capital was flowing to particular assets and sponsors rather than broadly across the market.

At the same time, Empire State Development announced Coinbase’s planned New York City expansion — a high‑profile commitment of more than 600 high‑tech jobs and over $750 million in annual research and development — illustrating how hiring momentum concentrated in targeted, high‑value growth bets rather than across the entire economy.