Figures

Manhattan Midtown South Office Figures June 2026

June 3, 2026 10 Minute Read

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  • Leasing activity totaled 705,000 sq. ft. in May, 47% above the five-year monthly average of 481,000 sq. ft.
  • Year-to-date leasing activity amounted to 3.38 million sq. ft., down 4% from the prior year.
  • Renewals totaled 10,000 sq. ft. in May, bringing the year-to-date total to 754,000 sq. ft.
  • The availability rate was down 40 basis points (bps) from last month to 17.1% and was down 380 bps from a year ago.
  • Net absorption was positive 267,000 sq. ft. in May, bringing the year-to-date total to positive 950,000 sq. ft.
  • At $86.38 per sq. ft., the average asking rent was essentially flat month-over-month and up 2% year-over-year.
  • The sublease availability rate was unchanged from last month at 2.3%, with the average asking rent up 7% from one year ago to $72.39 per sq. ft.