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Manhattan Midtown Market Reports

Manhattan Midtown Office Market

Average Asking Rent (Price/SF)        $82.14
Availability Rate (%)          11.5%
Net Absorption (SF)    1,088,863

Quarterly leasing in Midtown totaled 6.2 million square feet in the third quarter of 2018, a 3.2% increase from the 5.9 million square feet leased at this time last year but a 15.2% decrease when looking at the quarter-over-quarter comparison. Midtown was actually 18.1% ahead of its 10-year quarterly average by the end of the third quarter. The Grand Central, Sixth Avenue/Rock Center and Penn Station submarkets accounted for 50% of the total leasing activity, led by Grand Central with over 1.2 million square feet.

Manhattan Midtown Office Market Report
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