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Manhattan Market Reports

Manhattan Office Market

Average Asking Rent (Price/SF) $76.06
Availability Rate (%) 12.6%
Net Absorption (SF) -434,570

The Manhattan office market recorded 8,685,402 square feet of leasing activity in the second quarter of 2017, a 9.2% decrease from the second quarter of 2016. With 10 deals signed over 90,000 square feet, the year-to-date leasing total is 18,069,615 square feet, 4.2% below the 10-year average and down 3.5% from last year's total of 18,721,266 square feet. Midtown leasing paced the Manhattan market, capturing six of the top 10 deals. Four of the top deals this quarter involved financial services tenants, while the other deals consisted of TAMI (technology, advertising, media and information) and government tenants.

Manhattan Quarterly Office Report
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Manhattan Monthly Market Report
August 2017
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NYC NewTrends: WeLease: The Growth of Shared Workspace and Its Impact on the New York City Market
June 2016
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NYC NewTrends: Midtown's Pent-Up Supply
January 2016
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Fashion Trends: The Next Wave of Creative Tenants Moving Downtown
September 2015
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