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New York

Scorecard: Midtown leasing activity is down, availability flat

A monthy round-up of data and reports on the commercial market

From the April issue: Midtown leasing activity fell sharply in February, to just over 1 million square feet, down from a high 1.5 million feet in January. At the same time the availability rate remained flat over the past two months at 11.8 percent.

The biggest lease in February was law firm Kramer, Levin, Naftalis & Frankel’s 265,348-square-foot renewal at 1177 Sixth Avenue.

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Leasing activity also fell in Midtown South. In February, tenants inked deals for 390,000 square feet there, a decline of 11 percent.

The largest lease was for just 28,128 square feet, which entertainment producer AEG Live signed at 53 West 23rd Street.

midtown-south-average

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Midtown Office Market