Manhattan Office Market Trends

Stats: Quarterly Yearly

Market Overview for Quarter 2, 2023


Median price/sqft

$911

-12.2% YoY


Sales volume

$1.4B

-26.3% YoY


Transactions

36

5.9% YoY


Total sqft

1.6M

4.2% YoY

In total, 36 office deals closed, for a gain of 5.9% compared to the same period last year. The median price per square foot in Quarter 2, 2023 was $911, a change of -12.2% Y-o-Y.

Median Office Sale Price Per Square Feet

Manhattan office real estate price per square foot in Quarter 2, 2023 was $911, down by 12.2% Y-o-Y.

Office Transactions in Manhattan

Manhattan office real estate transactions in Quarter 2, 2023 was 36, up by 5.9% Y-o-Y.

Office Sales Volume in Manhattan

Manhattan office real estate sales volume in Quarter 2, 2023 was $1.4B, down by 26.3% Y-o-Y.

Total sqft of Office Properties Sold in Manhattan

Manhattan office real estate total square feet in Quarter 2, 2023 was 1.6M, up by 4.2% Y-o-Y.

Recent Significant Sales

Property Address Submarket Sale Date Price Square Feet Price/Sqft Package Deal

Top Boroughs in New York City

Manhattan median price per sqft compared with other boroughs in New York City

Submarket Borough Median sale price/sqft Transactions Sales volume Total sqft

See also

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