The week in real estate market reports

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 office leasing breaks 3M sf barrier for first time since early 2020
Manhattan office leasing breaks 3M sf barrier for first time since early 2020
Manhattan office leasing breaks 3M sf barrier for first time since early 2020
5 East 59th Street (Google Maps, 5e59.com)
Singapore bank sues to foreclose on ex-Playboy Club building
Singapore bank sues to foreclose on ex-Playboy Club building
Boston Properties’ Owen Thomas, Vornado Realty Trust’s Steve Roth, Paramount Group’s Albert Behler, SL Green’s Marc Holliday and Empire Real Estate Trust’s Tony Malkin  (iStock, slgreen.com, vno.com, paramount-group.com, esrtreit.com, LinkedIn)
Office landlords profess optimism despite dip in occupancy
Office landlords profess optimism despite dip in occupancy
George Comfort & Sons’ Peter Duncan (right), Philip Morris International CEO Jacek Olczak and 677 Washington Boulevard in Connecticut (George Comfort & Sons, Philip Morris, Google Maps)
George Comfort & Sons signs Philip Morris as Stamford tenant
George Comfort & Sons signs Philip Morris as Stamford tenant
Manhattan office market records busiest month since start of pandemic
Manhattan office market records busiest month since start of pandemic
Manhattan office market records busiest month since start of pandemic
With offices in flux, Empire State Realty Trust is pivoting to apartments
With offices in flux, Empire State Realty Trust is pivoting to apartments
With offices in flux, Empire State Realty Trust is pivoting to apartments
Though a majority of business leaders think hybrid work is here to stay, only 40% have taken steps to establish a plan for the arrangement’s future, (iStock)
Landlords beware: Office tenants procrastinating on hybrid planning
Landlords beware: Office tenants procrastinating on hybrid planning
How NYC’s top real estate law firms got creative in an unusual year
How NYC’s top real estate law firms got creative in an unusual year
How NYC’s top real estate law firms got creative in an unusual year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...