Report
New York City Life Sciences Figures Q3 2022
November 8, 2022
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- Quarterly lab leasing activity for NYC totaled 163,000 sq. ft., up from 6,000 sq. ft. the prior quarter and 54,000 sq. ft. from the same period last year.
- At 37.8%, NYC’s lab exclusive availability rate increased 790 basis points (bps) from last quarter and was up 1,670 bps from one year ago.
- At 7.2%, NYC’s occupancy-ready, pre-built lab exclusive availability rate increased 220 bps from last quarter and was up 610 bps from one year ago.
- NYC’s lab exclusive average asking rent was $106.58 per sq. ft., down 2% from last quarter but up 19% from one year ago.
- NYC’s lab requirements totaled 2.11 million sq. ft. to close the quarter, a 6% increase from the prior quarter and up 34% from one year ago.
- NYC’s life sciences venture capital funding totaled $86 million during the quarter, down 41% from last quarter and 72% from the same period last year.