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Manhattan Midtown South Market Reports

Manhattan Midtown South Office Market

Average Asking Rent (Price/SF)         $76.17
Availability Rate (%)           10.9%
Net Absorption (SF)     -263,795

Midtown South began 2018 on a strong note, compiling just over 2.0 million square feet of leasing in the first quarter. This marks the largest amount of quarterly leasing recorded in over two years and the first instance of quarterly leasing surpassing 2.0 million square feet since the fourth quarter of 2015. Leasing in Midtown South was still 30.1% below the five-year quarterly average. Nevertheless, this jump in leasing activity is a welcome improvement over the first quarter of last year, when leasing in the region dropped to 1,296,069 square feet.



Manhattan Midtown South Office Market Report
1Q18
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