Figures

Manhattan Midtown Office Figures August 2026

August 5, 2026 10 Minute Read

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  • Leasing activity totaled 1.69 million sq. ft. in July, 24% ahead of the five-year monthly average of 1.36 million sq. ft.
  • Year-to-date leasing activity amounted to 10.44 million sq. ft., up 1% from the prior year.
  • Renewals totaled 310,000 sq. ft. in July, bringing the year-to-date total to 4.67 million sq. ft.
  • The availability rate was down 40 basis points (bps) from last month to 12.3% and was down 280 bps year-over-year.
  • Net absorption was positive 1.14 million sq. ft. in July, bringing the year-to-date total to positive 3.01 million sq. ft.
  • At $85.77 per sq. ft., the average asking rent was essentially flat month-over-month and up 4% year-over-year.
  • The sublease availability rate decreased 20 bps compared to last month to 2.1%, with the average asking rent down 5% from one year ago to $60.66 per sq. ft.