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idtown’s office‑leasing boom is now buoying downtown New York. JLL data show that, in the third quarter, the district’s 95.6 million sq ft of space saw a clear uptick in both volume and rents compared with the same period a year earlier. Vacancy slid one percentage point to 23 %, while asking rents rose 3.1 % to $59.56 per square foot. JLL’s tristate brokerage president, Michael Colacino, noted that downtown’s rebound is almost twice the pace of last year, warning that early moves are crucial as the best spaces fill fast.

    The headline transaction was a direct lease by GFI Group for 112,783 sq ft at 55 Water St., more than doubling its former footprint in the tower. This move underscores a growing confidence in downtown’s office market, as tenants seek larger spaces. Meanwhile, the buzz in the area centers on Larry Silverstein’s negotiations with American Express over a potential deal to finally launch 2 World Trade Center. If a binding agreement materializes, it could unlock significant development momentum for the area.