Figures

Manhattan Midtown South Office Figures August 2026

August 5, 2026 10 Minute Read

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  • Leasing activity totaled 988,000 sq. ft. in July, 100% above the five-year monthly average of 494,000 sq. ft.
  • Year-to-date leasing activity amounted to 5.08 million sq. ft., up 10% from the prior year.
  • Renewals totaled 94,000 sq. ft. in July, bringing the year-to-date total to 1.01 million sq. ft.
  • The availability rate was down 20 basis points (bps) from last month to 16.8% and was down 360 bps from a year ago.
  • Net absorption was positive 100,000 sq. ft. in July, bringing the year-to-date total to positive 1.20 million sq. ft.
  • At $86.34 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 from last month at 2.3%, with the average asking rent up 6% from one year ago to $70.97 per sq. ft.