This week in real estate market reports

New York /
Jun.June 08, 2016 12:40 PM

In the latest batch of New York City real estate market reports, Downtown Brooklyn could see a rise in office vacancy as occupancy costs rise, and Manhattan’s luxury ZIP codes are seeing a slowdown in rent growth. Check out more in our roundup of the week’s market reports.

Residential

Luxury apartment rent growth: Zillow

Rent growth slowed in 85 percent of New York City’s luxury ZIP codes, as an excess of supply lowered new development prices. Read the full report here.

June 2016 national rental report: Zumper

New York City saw rental prices for one- and two-bedroom apartments increase 4.8 percent and 3.1 percent year-over-year, respectively. Since April, prices dropped 1.2 percent for one-bedrooms and 1.6 percent for two-bedrooms. Read the full report here.

Manhattan luxury contracts May 23-29: Olshan Realty

Manhattan’s luxury market saw a 7 percent chop from the average asking price for contracts signed during the last full week of May. Read the full report here.

Commercial

Q1 2016 Brooklyn and LIC office leasing: JLL

Vacancy in Downtown Brooklyn could be on the rise, with asking rents only 12.7 percent cheaper than Lower Manhattan. Overall gross asking rents in the area hit $50.42 per square foot in the first quarter of 2016. Read the full report here.

May 2016 Manhattan office leasing: Newmark Grubb Knight Frank

More than 3 million square feet of office space was leased in May, on par with the monthly average. Financial tenants signed four of the five largest deals last month. Read the full report here.

June 2016 Downtown Manhattan office leasing: CBRE

Leasing activity in May totaled 221,000 square feet, down 51 percent from the five-year monthly average. Average asking rent was virtually unchanged from the prior month at $57.55 per square foot. Read the full report here.

June 2016 Midtown Manhattan office leasing: CBRE

Midtown leasing activity totaled just under 1 million square feet in May, under the five-year monthly average of 1.3 million square feet. Average asking rent was $81.18 per square foot, unchanged from the previous month and up 5 percent year-over-year. 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...