** WELCOME TO THE NUMBER OF THE DAY
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** FEBRUARY 3, 2021
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In January, new leases of office space in Manhattan fell 47% compared to a year ago. The decline comes despite the fact that average office rents have fallen for seven straight months.[1] ([link removed])

According to _Bloomberg News_, “Manhattan’s office supply has surged since March, when the pandemic emptied out skyscrapers and companies turned to remote working.” A report from Colliers International shows that 14.9% of Manhattan office space is currently available. That’s the highest vacancy level ever recorded (Colliers has been collecting this information for 20 years).[1] ([link removed])

The average lease now goes for $73.65 per square foot, the lowest level in more than three years. Still, many companies are reassessing their needs for offices in Manhattan, according to _Bloomberg_.[1] ([link removed])
 
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Each weekday, Scott Rasmussen’s Number of the Day ([link removed]) explores interesting and newsworthy topics at the intersection of culture, politics, and technology. Columns published on Ballotpedia reflect the views of the author.

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