Figures

Westchester County Office Figures Q4 2024

January 10, 2025 5 Minute Read

‒ Quarterly leasing activity totaled 217,000 sq. ft., up 33% from the previous quarter and 8% above the five-year quarterly average.

‒ Annual leasing activity totaled 789,000 sq.ft., up 6% year-over-year, but 36% behind the 10-year average.

‒ The availability rate dropped 40 bps quarter-over-quarter to 21.6% but was up 40 bps from a year ago.

‒ Quarterly net absorption was positive 85,000 sq. ft., which brought year-to-date absorption to negative 74,000 sq. ft.

‒ The average asking rent was $29.81 per sq. ft., down 1% quarter-over-quarter and equal to year-end 2023.