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Manhattan Market Reports

Manhattan Office Market

Average Asking Rent (Price/SF) $76.95
Availability Rate (%) 11.7%
Net Absorption (SF) 1,365,188

Quarterly leasing velocity reached a record level for the second time in the past three quarters. The new cyclical high, 13.7 million square feet, is 40.1% higher than the 10-year average of 9.8 million square feet. Through the first half of 2019, leasing velocity was up 14.5% when compared with the first half of 2018. More than 1,000 transactions were completed this quarter, 45.7% more deals than were signed when the prior leasing record was set in the fourth quarter of 2018.

 



Manhattan Quarterly Office Report
2Q19
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Manhattan Monthly Market Report
August 2019
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