Long Island City Office Figures H2 2025

‒ Leasing activity totaled 292,000 sq. ft. in H2 2025, 47% ahead of the 199,000 sq. ft. half-year average witnessed over the past five years. Total leasing for 2025 amounted to 415,000 sq. ft.
‒ 345,000 sq. ft. of positive absorption occurred in H2 2025, bringing the year-end total to 435,000 sq. ft.
‒ The availability rate decreased to 24.3% in H2 2025, down 250 basis points (bps) from H1 2025 and down 320 bps year-over-year.
‒ At 7.1%, the sublease availability rate was up 10bps from H1 2025 and up 20 bps from the same period last year.
‒ Overall average asking rent was $52.42 per sq. ft. in H2 2025, essentially unchanged from both H1 2025 and the same period last year.