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tate Bank of India has leased nearly 42,000 square feet on three floors of 425 Park Ave., bringing the tower to full occupancy. This milestone marks a triumph for developer L&L Holdings and its financial partners, who spent over $1 billion to develop the Norman Foster-designed tower at East 55th Street.

    The leasing boom in Midtown is showing no signs of slowing down. In January and February, Manhattan office leasing surged to 5.13 million square feet, a 49% increase from the same period last year. This marks the strongest start to a year since 2014. Amazon has also made a significant move, taking nearly 200,000 square feet at 237 Park Ave.

    Premier Midtown buildings like Hudson Yards and Manhattan West are thriving due to unprecedented demand and limited supply. "The market is back," said CBRE global brokerage chairman Stephen B. Siegel. "It validates what I've always said - never give up on New York City or on the availability of capital here."

    Leasing volume in February was up by double-digit percentages over the same month last year in Midtown and Midtown South, with even the weaker Downtown market seeing a 287% increase due to a major expansion by Jane Street Capital. The lowest availability rate is found in "better buildings" in the Midtown Core, consisting of the Grand Central and Plaza submarkets as well as Sixth Avenue/Rockefeller Center, Park Avenue, and Fifth/Madison Avenue.

    A CBRE survey also found that Midtown Sixth Avenue/Rock Center leasing has reduced availability to 13.4%. Siegel noted that the combination of demand and shrinking supply at the most desirable newer buildings benefits class-A and A-minus buildings all along Sixth Avenue.