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
(Photo Illustration by The Real Deal with Getty)
New listings in Manhattan, Brooklyn rise for first time in 4 months
New listings in Manhattan, Brooklyn rise for first time in 4 months
From left: Joseph Chetrit, Barry Sternlicht, David Rubenstein, Michael Dell, and Marc Holliday, along with 305 East 86th Street and 1540 Broadway (Getty, Carlyle, Google Maps)
New York City’s biggest borrowers of 2022
New York City’s biggest borrowers of 2022
The Frame building at 541 West 21st Street
Nearly completed West Chelsea office project heads to foreclosure
Nearly completed West Chelsea office project heads to foreclosure
From left: Michael Dell with 25 Water Street, Alex Sapir with 261 Madison Avenue and Marc Holiday with One Madison Avenue (Getty, Edge Funds, Sapir Organization, SL Green)
Office properties (yes, office!) got Manhattan’s biggest December loans
Office properties (yes, office!) got Manhattan’s biggest December loans
From left: Vanbarton Group’s Gary Tischler and Richard Coles along with 3 West 29th Street (Getty, Vanbarton Group, Google Maps)
Vanbarton eyes life sciences project at former HFZ site in NoMad
Vanbarton eyes life sciences project at former HFZ site in NoMad
KKR’s Henry Kravis, Related Companies’ Stephen Ross and Meta’s Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites CC BY-SA 4.0 via Wikimedia Commons)
Surviving the tech wreck: How the Manhattan office market could pivot
Surviving the tech wreck: How the Manhattan office market could pivot
From left: Newmark's Peter Shimkin and David Falk.300 East 42nd Street
Jamaican consulate inks 43K sf lease in Murray Hill
Jamaican consulate inks 43K sf lease in Murray Hill
KKR's Henry Kravis and Meta's Mark Zuckerberg with 30 Hudson Yards (Getty, Rhododendrites, CC BY-SA 4.0 via Wikimedia Commons)
KKR takes over Meta’s large 30 Hudson Yards office
KKR takes over Meta’s large 30 Hudson Yards office
arrow_forward_ios

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

Loading...