Figures

Manhattan Midtown Office Figures Q3 2026

October 7, 2026 10 Minute Read

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  • Leasing activity totaled 4.35 million sq. ft. in Q3, 6% ahead of the five-year quarterly average of 4.10 million sq. ft.
  • Year-to-date leasing activity totaled 13.10 million sq. ft. and was down 8% from the prior year.
  • Renewals totaled 1.41 million sq. ft. in Q3, bringing the year-to-date total to 5.77 million sq. ft.
  • The availability rate was down 60 basis points (bps) from last quarter to 12.1% and was down 240 bps from a year ago.
  • Net absorption was positive 1.48 million sq. ft. in Q3, bringing the year-to-date total to positive 3.35 million sq. ft.
  • At $85.53 per sq. ft., the average asking rent was essentially unchanged quarter-over-quarter but up 3% year-over-year.
  • The sublease availability rate was down 10 bps from last quarter to 2.2%, with the average asking rent down 3% from one year ago at $61.05 per sq. ft.