Figures

Manhattan Office Figures Q3 2026

October 7, 2026 10 Minute Read

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  • Leasing activity totaled 7.10 million sq. ft. in Q3, 11% ahead of the five-year quarterly average of 6.41million sq. ft.
  • Year-to-date leasing activity totaled 21.99 million sq. ft. and was down 5% from the prior year.
  • Renewals totaled 2.41 million sq. ft. in Q3, bringing the year-to-date total to 8.34million sq. ft.
  • The availability rate was down 70 basis points (bps) from last quarter to 13.7% and was down 290 bps from a year ago.
  • Net absorption was positive 2.67 million sq. ft. in Q3, bringing the year-to-date total to positive 7.75 million sq. ft.
  • At $80.40per sq. ft., the average asking rent was essentially unchanged quarter-over-quarter but up 4% year-over-year.
  • The sublease availability rate was down 20 bps from last quarter to 2.4%, with the average asking rent up 4% from one year ago to $60.01 per sq. ft.