Figures
New York City Life Sciences Figures Q1 2026
May 12, 2026 10 Minute Read
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- There was 27,000 sq. ft. of leasing velocity in Q1 2026, down 84% from 163,000 sq. ft. of leasing velocity in the prior quarter; year-to-date velocity was 10% lower than 2025’s total during the same period.
- At 27.5%, NYC’s lab exclusive availability rate increased 10 basis points (bps) from last quarter and was up 120 bps from one year ago.
- At 11.6%, NYC’s occupancy-ready, built lab exclusive availability rate was down 20 bps from the previous quarter and was up 190 bps from its level one year ago.
- NYC’s lab exclusive average asking rent was $96.43 per sq. ft., flat from last quarter and down 9% from its level one year ago.
- NYC’s lab requirements totaled 319,000 sq. ft. to close the quarter, down 3% from the prior quarter and down 27% from one year ago.
- NYC’s life sciences venture capital funding totaled $263.65 million during the quarter, 24% lower than the volume seen in the prior quarter and 22% less than the five-year quarterly average of $337.71 million.