Figures

Manhattan Midtown South Office Figures September 2026

September 3, 2026 10 Minute Read

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  • Leasing activity totaled 595,000 sq. ft. in August, 20% above the five-year monthly average of 495,000 sq. ft.
  • Year-to-date leasing activity amounted to 5.68 million sq. ft., up 10% from the prior year.
  • Renewals totaled 326,000 sq. ft. in August, bringing the year-to-date total to 1.34 million sq. ft.
  • The availability rate was down 40 basis points (bps) from last month to 16.4% and was down 360 bps from a year ago.
  • Net absorption was positive 336,000 sq. ft. in August, bringing the year-to-date total to positive 1.54 million sq. ft.
  • At $86.26 per sq. ft., the average asking rent was essentially flat month-over-month and up 1% year-over-year.
  • The sublease availability rate was unchanged from last month at 2.3%, with the average asking rent up 4% from one year ago to $71.39 per sq. ft.