Figures

Manhattan Midtown Office Figures September 2026

September 3, 2026 10 Minute Read

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  • Leasing activity totaled 1.52 million sq. ft. in August, 11% ahead of the five-year monthly average of 1.37 million sq. ft.
  • Year-to-date leasing activity amounted to 11.96 million sq. ft., down 5% from the prior year.
  • Renewals totaled 410,000 sq. ft. in August, bringing the year-to-date total to 5.08 million sq. ft.
  • The availability rate was down 20 basis points (bps) from last month to 12.1% and was down 290 bps year-over-year.
  • Net absorption was positive 502,000 sq. ft. in August, bringing the year-to-date total to positive 3.51 million sq. ft.
  • At $85.55 per sq. ft., the average asking rent was essentially flat month-over-month and up 2% year-over-year.
  • The sublease availability rate was unchanged compared to last month at 2.1%, but the average asking rent was down 8% from one year ago to $59.88 per sq. ft.