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Manhattan Midtown Market Reports

Manhattan Midtown Office Market

Average Asking Rent (Price/SF)        $80.15
Availability Rate (%)          11.9%
Net Absorption (SF)     270,815

Overall leasing in Midtown totaled 6.3 million square feet in the fourth quarter of 2017, a 5.5% increase from the 6.0 million square feet leased in the third quarter. This brings the total square footage leased for the year to 24.3 million square feet, a 90-basis-point increase from year-end 2016. Additionally, renewal activity increased by 3.7% over the fourth quarter from 1.2 million square feet, while relocations increased 12.6% year-over-year from 4.5 million square feet.

Manhattan Midtown Office Market Report
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