There was a time not that long ago when Manhattan was awash in towers with multiple empty floors in need of a tenant. Those days are gone. 
Now, companies with large office footprints are starting their renewal or relocation decisions five or more years before their leases expire to ensure they have some top-tier options to choose from.
“This is probably the frothiest time of lack of supply,” JLL Vice Chairman Mitch Konsker said. “I would probably say, in my 43-year career, it’s happened two or three times.”