Savills and Havas Health secure major office expansions in New York City

Major commercial real estate transactions have been finalized in New York City's Midtown districts.

Savills, a global real estate advisory firm, is expanding its New York City presence by leasing 20,481 square feet at Rudin’s 560 Lexington Avenue. The firm will occupy the entire third floor of the 22-story Midtown East tower for a five-year term to accommodate its program and project management group.

In Midtown South, global communications firm Havas Health has secured a significant expansion and extension at 200 Madison Avenue. The deal, involving landlords George Comfort & Sons, Loeb Partners Realty, and Jamestown, includes a 65,000-square-foot expansion and a 15-year extension of its existing 189,000-square-foot space. Havas will occupy five floors of the 26-story tower.

These moves occur amid shifting trends in the Manhattan office market. Midtown South has seen tightening availability, with leasing volume in the second quarter reaching its highest level since 2001.