Quarterly, the Newmark Manhattan New York Real Estate Market Report provides the necessary market intel for commercial real estate experts to make informed decisions regarding the office sector.
Manhattan Office Market
Improved quarterly absorption and stronger leasing activity in the second quarter led to a modest decline in availability to 19.4%. 1H24 leasing recorded 16.5 MSF, up 19.8% from the first-half of last year. Class A assets comprised 71.4% of Manhattan activity with Midtown accounting for 74.8% of second quarter leasing. Midtown trophy assets continued to outperform the overall market posting an increase in rents as availability within the set declined to 8.6%. Download Manhattan Office Market Report 2Q24
