The week in real estate market reports

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.


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.


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

Meridian Capital CEO Ralph Herzka and One Battery Park Plaza (Credit: Sean Zanni/Patrick McMullan via Getty Images; Google Maps)

Meridian Capital employee tests positive for coronavirus

From left: L&L Holding Company's 425 Park Avenue with CEO David Levinson, Citadel Securities founder Ken Griffin, and Vornado Realty Trust’s 350 Park Avenue with CEO Steve Roth (Credit: (Photo by Michael Kovac/Getty Images; L&L Holding Company; Vornado)

Citadel Securities expands nearby lease while waiting on 425 Park

135 West 50th Street and Industrious co-founders Justin Stewart and Jamie Hodari

Industrious reaches deal for 60K square feet in Midtown

JPMorgan's Jamie Dimon and 125 West 55th Street (Credit: Getty Images, Google Maps)

JPMorgan looks to sell Plaza District office building for $550M

260 Madison Avenue and Sapir Organization’s Alexi Sapir (Credit: Getty Images)

Sapir Org inks big renewal with law firm at 260 Madison

437 Madison Avenue, 50 Hudson Yards, and 1 New York Plaza (Credit: 437 Madison, Hudson Yards, Wikipedia)

Manhattan office leasing just had its most active year since 2001

Mary Ann Tighe

Mary Ann Tighe on Manhattan’s office boom of the 2010s

From left: 50 Hudson Yards, 341 Ninth Avenue, 30 Hudson Yards (background) with Google's Sundar Pichai, Amazon's Jeff Bezos and Facebook's Mark Zuckerberg (Credit: Google Maps and Getty Images)

Big tech puts Manhattan office leasing within reach of annual record