Manhattan Midtown South Office Market
| Average Asking Rent (Price/SF) | $84.69 |
| Availability Rate (%) | 10.1% |
| Net Absorption (SF) | -503,311 |
Midtown South felt the effects of COVID-19 on leasing activity more than Midtown or Downtown in the second quarter. Activity totaled 358,575 square feet, the lowest in more than a decade. This was a 62.8% decline from the first quarter, when the cyclical low was previously reached. Activity was down 87.4% year over year. The largest lease this quarter was signed by Match Group for three floors at 60-74 Gansevoort Street, totaling 40,569 square feet.
Download Manhattan Midtown South Office Market Report 2Q20