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Long Island City Market Reports

Long Island City Office Market

Average Asking Rent (Price/SF) $42.68
Availability Rate (%) 18.4%
Net Absorption (SF) -268,599

Availability has increased for the sixth consecutive quarter, climbing to 18.4% in the first quarter of 2018. This is an increase of 50 basis points from the previous quarter. Vacancy also continues to grow, increasing 80 basis points to 16.3%. These increases were driven by a large increase in supply. This quarter alone saw 1,059,500 square feet of space added to the current inventory.



Long Island City Office Market Report
1Q18
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