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Manhattan Downtown Market Reports

Manhattan Downtown Office Market Report

 Average Asking Rent (Price/SF)        $64.91
 Availability Rate (%)         13.8%
 Net Absorption (SF)        69,817

Leasing in the Downtown market cooled off in the fourth quarter after a remarkably strong start to the year, yet the market still posted its strongest annual performance in the past three years. Total leasing volume for the year, at 6.7 million square feet, was 20.4% higher than last year's total and 4.1% above the 10-year average. The market compiled 1.2 million square feet of leasing volume this quarter, driven by six leases over 50,000 square feet. This is slightly below the 10-year quarterly average of 1.6 million square feet but marked an increase of 27.3% year-over-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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