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Manhattan Midtown Market Reports

Manhattan Midtown Office Market

Average Asking Rent (Price/SF)        $82.27
Availability Rate (%)          12.4%
Net Absorption (SF)        20,735

Second quarter leasing reached a historical high with 8.1 million square feet leased, surpassing the previous record set in the fourth quarter of 2018. The quarterly leasing output marked a 29.4% increase from the first quarter and was 47.8% higher than the 10-year quarterly average. The past year of leasing in Midtown has outpaced that of all other consecutive four-quarter spans in history, surpassing the previous record by more than 800,000 square feet.

Manhattan Midtown Office Market Report
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