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Manhattan Midtown Market Reports

Manhattan Midtown Office Market

Average Asking Rent (Price/SF)        $82.02
Availability Rate (%)          12.4%
Net Absorption (SF)  -1,167,834

First quarter leasing started off the year strong with 5.8 million square feet leased in Midtown after a record-setting fourth quarter. The quarter's leasing output marked a 27.6% decrease from the 8.0 million square feet leased last quarter, but is 9.3% above the 10-year quarterly average. Quarterly leasing was up 8.2% year-over-year and is the highest first quarter output since 2011 due to several large deals completed.

Manhattan Midtown Office Market Report
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