Figures

Manhattan Midtown South Office Figures Q3 2026

October 7, 2026 10 Minute Read

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  • Leasing activity totaled 2.13 million sq. ft. in Q3, 44% ahead of the five-year quarterly average of 1.48 million sq. ft.
  • Year-to-date leasing activity amounted to 6.22 million sq. ft., up 8% from the prior year.
  • Renewals totaled 670,000 sq. ft. in Q3, bringing the year-to-date total to 1.59 million sq. ft.
  • The availability rate was down 80 basis points (bps) from last quarter to 16.2% and was down 340 bps from a year ago.
  • Net absorption was positive 619,000 sq. ft. in Q3, bringing the year-to-date total to positive 1.72 million sq. ft.
  • At $86.94 per sq. ft., the average asking rent was up 1% quarter-over-quarter and 3% year-over-year.
  • The sublease availability rate was up 10 bps from last quarter to 2.4%, with the average asking rent up 11% from one year ago to $74.39 per sq. ft.