Office leasings in Manhattan fell to 6.6m sq ft in Q1, down from 7m sq ft in the year-earlier period, figures from Cushman & Wakefield showed.
Some 806,000 sq ft more of office space was added to the market than was leased out, the first negative absorption since Q3 2013.
Cushman’s northeast director, Richard Persichetti, noted concerns about the stock market which had led to a slow start to the year.
