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Manhattan Midtown South Market Reports

Manhattan Midtown South Office Market

Average Asking Rent (Price/SF)         $74.09
Availability Rate (%)           10.7%
Net Absorption (SF)       196,462

The Midtown South market compiled nearly 1.8 million square feet of leasing activity in the fourth quarter of 2017, marking the second-highest quarter in an otherwise slow two years. After enjoying a boom in leasing between 2010 and 2015, driven by rapidly growing tech tenants, the market has experienced a noticeable decline in leasing activity over the past two years. Leasing over the past two years averaged 2.9 million square feet, compared with 2.9 million square feet over the previous six years.



Manhattan Midtown South Office Market Report
4Q17
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