Brooklyn Office Figures Q3 2026

– Leasing activity totaled 123,000 sq. ft. in Q3 2026, 48% behind the five-year quarterly average of 236,000 sq. ft.
– Year-to-date leasing activity totaled 691,000 sq. ft. and was down 35% from the same time last year.
– The availability rate was up 140 basis points (bps) from Q2 2026 to 18.6% but was down 180 bps from one year ago.
– Net absorption was negative 481,000 sq. ft. in Q3 2026, bringing the year-to-date total to positive 1.11 million sq. ft.
– At $48.68 per sq. ft., the average asking rent was up 2% quarter-over-quarter but down 9% year-over-year.
– The sublease availability rate was down 10 bps from last quarter to 1.5% and represented 8% of all available space.