Figures

Manhattan Midtown South Office Figures Q2 2026

July 8, 2026 10 Minute Read

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  • Leasing activity totaled 2.19 million sq. ft. in Q2, 50% ahead of the five-year quarterly average of 1.46 million sq. ft.
  • Year-to-date leasing activity amounted to 4.09 million sq. ft., up 2% from the prior year.
  • Renewals totaled 596,000 sq. ft. in Q2, bringing the year-to-date total to 918,000 sq. ft.
  • The availability rate was down 70 basis points (bps) from last quarter to 17.0% and was down 350 bps from a year ago.
  • Net absorption was positive 595,000 sq. ft. in Q2, bringing the year-to-date total to positive 1.10 million sq. ft.
  • At $85.73 per sq. ft., the average asking rent was up 2% quarter-over-quarter and 2% year-over-year.
  • The sublease availability rate was flat from last quarter at 2.3%, with the average asking rent up 7% from one year ago to $70.44 per sq. ft.