The week in real estate market reports

TRD New York /
Mar.March 30, 2016 03:55 PM

Landlords are slashing rents and leasing activity in Midtown nearly doubled in February, according to the latest batch of New York City office market reports. Check out more from the office recaps and monthly residential sales analysis in our roundup of the week’s real estate market reports.

Residential

February 2016 U.S. existing home sales: National Association of Realtors

Existing home sales fell in February after reaching its highest annual rate in six months. Transactions fell 7.1 percent to 5.08 million homes in February. Read the full report here.

February 2016 Manhattan and Brooklyn residential sales: StreetEasy

Prices are still rising in Manhattan and Brooklyn, but the boroughs could see an eventual slowdown in the coming months. Sale prices grew at a higher pace than rents in both areas. Read the full report here.

Manhattan luxury contracts March 14-20: Olshan Realty

Luxury home sales were up for the second consecutive week during the third week of March. Twenty-eight contracts were signed for homes priced $4 million and above, the most active week so far this year. Read the full report here.

Office

Q4 2015 New York City office leasing: Savills Studley

Office rents are falling across Manhattan. Average rents in Midtown Manhattan’s top buildings fell to $87 per square foot in the fourth quarter, compared with $91 in the third quarter. Leasing totaled 7.1 million square feet in the last three months of 2015, up from the prior quarter but below the long-term annual average. Read the full report here.

March 2016 Downtown Manhattan office leasing: CBRE

Downtown’s year-to-date net absorption increased by 408,000 square feet in February. Rents were unchanged and leasing activity slowed. Read the full report here.

March 2016 Midtown South Manhattan office leasing: CBRE

Leasing activity totaled 540,000 square feet in February, and availability fell back below 8 percent. Read the full report here.

March 2016 Midtown Manhattan office leasing: CBRE

More than 1.4 million square feet was leased in February, double that of January’s leasing activity, and 10 percent above the five-year monthly average, Read the full report here.

To view more market reports, check out the new TRData page.


Related Articles

arrow_forward_ios
Manhattan’s 10019 zip code, which covers Midtown, Times Square, Herald Square and Midtown South, saw the most foreclosures in the borough with eight. (Credit: iStock)

Manhattan foreclosures soar 118%, driven by mortgage defaults

FiDi sees a spike in sales, renters “camping out” in outer boroughs and more of the biggest trends in resi right now

Albert Laboz of United American Land with 430 West Broadway and 419 Broadway (Credit: Getty Images and rendering via YIMBY)

Laboz family plans 2 office developments
in Soho

From left: 1271 Sixth Avenue, 30 Hudson Yards, and 55 Water Street (Credit: Wikipedia)

Manhattan leasing activity up year-over-year while asking rents hit record high

Office rents in U.S. are going up — barely

(Credit: Miller Samuel)

Rents rise to $3K mark in Brooklyn, Queens

(Credit: Miller Samuel)

Manhattan landlords offering fewer concessions these days

From left: McCann Chairman & CEO Harris Diamond, Cohen Brothers Realty President & CEO Charles S. Cohen and 622 Third Avenue (Credit: Getty Images, Google Maps)

McCann inks 450K sf extension at Cohen Brothers’ 622 Third Ave

arrow_forward_ios