Figures

Manhattan Midtown Office Figures Q2 2026

July 8, 2026 10 Minute Read

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  • Leasing activity totaled 4.55 million sq. ft. in Q2, 12% ahead of the five-year quarterly average of 4.04 million sq. ft.
  • Year-to-date leasing activity totaled 8.75 million sq. ft. and was up 1% from the prior year.
  • Renewals totaled 1.57 million sq. ft. in Q2, bringing the year-to-date total to 4.36 million sq. ft.
  • The availability rate was down 10 basis points (bps) from last quarter to 12.7% and was down 280 bps from a year ago.
  • Net absorption was positive 263,000 sq. ft. in Q2, bringing the year-to-date total to positive 1.87 million sq. ft.
  • At $86.18 per sq. ft., the average asking rent was up 2% quarter-over-quarter and 5% year-over-year.
  • The sublease availability rate was up 10 bps from last quarter to 2.3%, with the average asking rent essentially unchanged from one year ago at $63.19 per sq. ft.