Figures

Manhattan Office Figures Q2 2026

July 8, 2026 10 Minute Read

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  • Leasing activity totaled 7.88 million sq. ft. in Q2, 24% ahead of the five-year quarterly average of 6.35 million sq. ft.
  • Year-to-date leasing amounted to 14.89 million sq. ft., in line with the prior year.
  • Renewals totaled 2.67 million sq. ft. in Q2, bringing the year-to-date total to 5.93 million sq. ft.
  • The availability rate fell 70 basis points (bps) from last quarter to 14.4% and was down 310 bps from a year ago.
  • Net absorption was positive 3.02 million sq. ft. in Q2, bringing the year-to-date total to positive 5.08 million sq. ft.
  • At $80.17 per sq. ft., the average asking rent was up 3% quarter-over-quarter and up 4% year-over-year.
  • The sublease availability rate was down 10 bps from last quarter to 2.6%, with the average asking rent up 3% from one year ago to $59.94 per sq. ft.