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Manhattan Midtown South Market Reports

1Q22

Leasing activity totaled 2.2 million square feet this quarter, a 25.1% rise above the five-year quarterly average of 1.7 million square feet, and the highest point since the third quarter of 2019.

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Manhattan Midtown South Office Market

Average Asking Rent (Price/SF) $81.70
Availability Rate (%) 17.5%
Net Absorption (SF)-589,393

Leasing activity totaled 2.2 million square feet this quarter, a 25.1% rise above the five-year quarterly average of 1.7 million square feet, and the highest point since the third quarter of 2019. IBM signed the largest deal of the quarter, taking 328,000 square feet at One Madison Avenue.

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