Manhattan Downtown Office Market Report
| Average Asking Rent (Price/SF) | $59.59 |
| Availability Rate (%) | 21.8% |
| Net Absorption (SF) | 319,202 |
The Downtown availability rate decreased by 30 basis points quarter over quarter to 21.8%. This was driven by significant declines in Tribeca/City Hall and Downtown West, where availability rates fell by 200 and 50 basis points, respectively. Downtown East was stable, ticking up just 10 basis points to 26.8%, the highest across the three markets.
Download Manhattan Downtown Office Market Report 4Q22