• Q2 2016 leasing activity exceeded Q2 2015 activity by 73%.
  • Net absorption totaled 121,000 sq. ft.—a significant improvement over Q2 2015 net absorption of 25,000 sq. ft.
  • The overall average asking lease rate increased from $33.30 per sq. ft. to $36.69 per sq. ft. year-over-year.
  • Madewell’s 59,616 sq. ft. commitment at 30-30 47th Avenue in Long Island City represents the largest lease in 2016 year-to-date.