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Manhattan Downtown Market Reports

Manhattan Downtown Office Market Report

 Average Asking Rent (Price/SF)        $64.28
 Availability Rate (%)         14.8%
 Net Absorption (SF)     -651,808

Downtown saw a marked increase in leasing during the second quarter Over 2.2 million square feet of space was leased, which dwarfs the first quarter's 1.0 million square feet of leasing. Year-over-year, this is a 53.1% increase in leasing. It is also 26.9% higher than the five-year average and 38.8% higher than the 10-year average. This robust quarter was bolstered by three deals over 100,000 square feet, including two of the largest seven deals in Manhattan. Downtown West was responsible for 58.0% of the quarter's deals.

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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