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Manhattan Market Reports

Manhattan Office Market

Average Asking Rent (Price/SF) $75.75
Availability Rate (%) 12.3%
Net Absorption (SF) -1,091,661

The Manhattan office market recorded 8.4 million square feet of leasing activity in the first quarter of 2018, 7.7% below the 10-year quarterly average. The month of February drove activity for the quarter, with the largest leasing volume in Manhattan since January 2017. The Grand Central and Sixth Avenue submarkets both had a strong quarter of leasing, with a combined total of 2.2 million square feet. Midtown captured six of the top 10 deals, carrying Manhattan leasing for the quarter. Five of the top 10 deals this quarter involved financial services tenants.

 



Manhattan Quarterly Office Report
1Q18
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Manhattan Monthly Market Report
April 2018
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NewTrends - Workplace: Strategies of the Past and Innovations for the Future
March 2018
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NewTrends - NYC's New Giants
October 2017
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NewTrends - East Midtown Renaissance
May 2017
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