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Manhattan Downtown Market Reports

Manhattan Downtown Office Market Report

 Average Asking Rent (Price/SF)        $65.06
 Availability Rate (%)         13.8%
 Net Absorption (SF)      425,759

Downtown Manhattan had a busy third quarter of leasing, continuing what has been its strongest year since 2014. Leasing activity this quarter totaled 1.9 million square feet, a 28.5% increase quarter-over-quarter and a 41.2% increase year-over-year. Through the first nine months of the year, the market has seen 5.9 million square feet of activity, which is 24.3% above the 10-year average. The market's large block availabilities are quickly being absorbed, driven by 12 deals over 100,000 square feet this year.

Manhattan Downtown Office Market Report
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Fashion Trends: The Next Wave of Creative Tenants Moving Downtown
September 2015
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