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Manhattan Midtown South Market Reports

Manhattan Midtown South Office Market

Average Asking Rent (Price/SF)          $76.45
Availability Rate (%)              9.7%
Net Absorption (SF)        416,460

Midtown South leasing increased by 63.9% quarter-over-quarter to 2,754,586 square feet, the highest total since the fourth quarter of 2015. Fourth-quarter leasing velocity was 12.0% above the 10-year average of 2,459,989 square feet. The availability rate in Midtown South fell to 9.7%, down 90 basis points quarter-over-quarter, and reached its lowest point since the fourth quarter of 2016. With limited additions of large blocks of space to the market, the availability rate fell for the third straight quarter.



Manhattan Midtown South Office Market Report
4Q18
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