Leasing & tenant law · Deals & development · 11/02/2026
Law firms take three of NYC's 10 biggest office leases
Law firms signed three of the 10 largest Manhattan office leases last month, including the biggest, by Morgan Lewis & Bockius. Other top deals went to a fintech expanding in the Flatiron area, a firm renewing for 11 years in the Financial District, a nonprofit, an investment manager at Hudson Yards and an architecture firm in Chelsea.
Reported by The Real Deal · New YorkRead the original ↗
What happened
The Real Deal published its list of New York City's 10 largest office leases for the month running 10/01/2026 to 10/31/2026 on 11/02/2026. Law firms signed three of the 10 deals, including the largest. The outlet said those three law-firm leases total nearly half a million square feet. Other deals on the list were signed by a financial technology company, an AI-powered fintech platform, a creative production company, a nonprofit, a global investment manager, and an architecture and design firm.
The largest deal was a new lease by law firm Morgan Lewis & Bockius in a Midtown West building owned by Mitsui Fudosan America. It moves the firm's NYC office from 101 Park Avenue. The Real Deal said the move-in date was not immediately clear. A Newmark team represented the landlord.
A second Real Deal story the same day, citing a Colliers report, named two more of the deals. Fintech firm Ramp signed a 460,000-square-foot extension and expansion at Williams Equities' 28-40 West 23rd Street. Colliers ranked it the month's second-largest lease. The list story places the building in the Flatiron area and says it is Ramp's third expansion there. Law firm Seward and Kissel signed a 170,000-square-foot extension at 1 Battery Park Plaza in the Financial District, owned by Rudin and Allianz Real Estate. The list story says that renewal runs another 11 years and that the firm has been in the building since 2011.
Colliers also reported that Manhattan's average office asking rent reached $79.47 per square foot. That matches the pre-pandemic average from 03/2020. Rents rose 1.4 percent from the prior month and 5.7 percent year over year. Tenants signed 4.54 million square feet during the month, and year-to-date leasing reached 37.39 million square feet. That keeps 2026 on pace for the best office leasing year since 2000. Manhattan's availability rate fell to 12.3 percent, the lowest since 08/2020.
Key facts
- Published
- 11/02/2026 (The Real Deal)
- Largest lease
- Morgan Lewis & Bockius, new lease in Midtown West, relocating from 101 Park Avenue; landlord Mitsui Fudosan America
- Ramp deal
- 460,000 sq ft extension and expansion at 28-40 West 23rd Street; landlord Williams Equities (per Colliers via The Real Deal)
- Seward and Kissel deal
- 170,000 sq ft extension at 1 Battery Park Plaza; owners Rudin and Allianz Real Estate; renewal for another 11 years
- Law-firm share
- 3 of the 10 largest leases, totaling nearly half a million sq ft
- Average asking rent
- $79.47 per sq ft, up 1.4% month over month and 5.7% year over year (Colliers)
- Leasing volume
- 4.54 million sq ft in the month; 37.39 million sq ft year to date (Colliers)
- Availability
- 12.3% in Manhattan, lowest since 08/2020; sublet supply down 16.2% from a year ago (Colliers)
What it means
Landlords
These are commercial office deals, mostly in Manhattan. The reports do not tie them to residential rents, rules or enforcement, so they do not change anything for small residential landlords.
Tenants and voucher holders
Nothing in these reports affects apartment rents, rent stabilization or voucher programs. Office leasing figures are not a measure of the residential rental market.
Buyers and owners
Owners of office or mixed-use property can see from these figures that Manhattan office demand is strong and available space is shrinking. The reports cover Manhattan only and do not address other boroughs.
The highlights
- Top deal: Morgan Lewis & Bockius is leaving 101 Park Avenue for Midtown West.
- The three law firm leases total nearly half a million square feet.
- A fintech's third Flatiron expansion brings it to nearly half a million square feet.
Why it matters Landlords
Big law and finance tenants are still committing to long Manhattan office leases, a sign of steady demand in the city's commercial market.
Not known yet
- Square footage and exact addresses for most deals on the list, including Morgan Lewis
- Names of several tenants on the list, which the article text describes only by type
- When Morgan Lewis will move into its new office
- Rents or lease terms agreed in the individual deals
Background
Commercial leases in New York City, including office leases, are not covered by rent stabilization or rent control. Rent and terms are negotiated directly between landlord and tenant, often through brokers. Residential rent regulation is handled separately at the state level by HCR, and the city's housing code enforcement for apartments is handled by HPD. Changes in the office market do not directly change the rules for residential tenants or landlords.
Buildings in this story
- 101 Park Avenue · building facts and open city records
Also drawn from: Manhattan office rents turn pre-pandemic corner (The Real Deal · New York)
Summary written by Bulwark from The Real Deal · New York’s reporting. The original story is at therealdeal.com. This is general information, not legal advice.
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Photo: Andre Carrotflower, CC BY-SA 4.0