Figures

Manhattan Downtown Office Figures August 2026

August 5, 2026 10 Minute Read

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  • Leasing activity totaled 305,000 sq. ft. in July, 8% ahead of the five-year monthly average of 282,000 sq. ft.
  • Year-to-date leasing activity amounted to 2.35 million sq. ft. and was down 10% from the prior year.
  • Renewals totaled 23,000 sq. ft. in July, bringing the year-to-date total to 679,000 sq. ft.
  • The availability rate was down 30 basis points (bps) from last month at 16.3% and down 380 bps year-over-year.
  • Net absorption was positive 253,000 sq. ft. in July, bringing the year-to-date total to positive 2.36 million sq. ft.
  • At $61.91 per sq. ft., the average asking rent was essentially flat month-over-month and up 8% year-over-year.
  • The sublease availability rate decreased 20 bps from last month to 3.3%, while the average asking rent was up 4% from one year ago to $47.46 per sq. ft.