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Long Island City Market Reports

Long Island City Office Market

Average Asking Rent (Price/SF) $43.87
Availability Rate (%) 21.4%
Net Absorption (SF)   682,547

Significant leasing was completed at 1 Court Square in the second quarter, less than three months after Amazon pulled out of the market. Health care company Centene leased 500,000 square feet in the largest transaction in Long Island City in six quarters when Bloomingdales leased 550,000 square feet to anchor Tishman Speyer's new development, the JACX. 1 Court Square saw two additional transactions this quarter. Current tenants Altice and Collins Building Services inked deals to renew their footprints. The building saw a combined 633,893 square feet of leasing activity this quarter with 19.0% availability remaining.

Long Island City Office Market Report
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