68% of Manhattan’s office leasing activity is in Midtown

New York /
Jul.July 12, 2017 06:25 PM

Credit: CityRealty

According to this week’s market reports, Midtown Is The Place to be for office tenants, with 5.9 million square feet leased in the second quarter of 2017, and condominium prices in Brooklyn jumped 10 percent year-over-year to $1.25 million.

Residential

Rental report | MNS
Only three Manhattan neighborhoods — Battery Park City, Soho and Midtown East — saw average rent increase more than 0.5 percent year-over-year in June. Rents decreased the most in Chelsea and Tribeca, falling 8.9 and 5.3 percent respectively. Read the full reports for Manhattan, Brooklyn and Queens here.

Brownstone Brooklyn Sales | Ideal Properties Group
Median sales price for condos in Brownstone and North Brooklyn rise to $1.25 million in the second quarter of 2017, a 9.6 percent year-over-year increase, while townhouses dip 5.1 percent to $2.2 million. Read the full report here.

Manhattan sales | CityRealty
Average price for new development units dropped to $4.7 million in July, down from $5.7 million in June and $6.7 million in May, while the number of sales rose from 133 last month to 156. Read the full report here.

Luxury Sales | Olshan Realty
Seventeen contracts were signed last week at $4 million and above, with an average 6 percent discount from the asking price. The total asking dollar volume was $145 million. Read the full report here.

Rental inventory | RentCafe
Manhattan leads the New York metro area for the most apartments in the pipeline, with 7,203 scheduled for completion in 2017, followed closely by Brooklyn with 6,984. Read the full report here.

Commercial

Office leasing | Newmark Knight Frank
Manhattan’s office market recorded 8.7 million square feet of leasing activity in the second quarter, down 9.2 percent from the previous year. Midtown nabbed six of the 10 biggest deals, and 68 percent of leasing activity. Read the full report here.


Related Articles

arrow_forward_ios
David Marx of MDG Real Estate and the site at 71-05 Parsons Boulevard in Queens (Credit: Google Images and iStock)
David Marx wants to buy a Queens dev site from his own company – if bondholders let him
David Marx wants to buy a Queens dev site from his own company – if bondholders let him
Sadness Love in Ending of Relationship Concept, Broken Heart Woman Standing with a Red Rose on Hand, Blurred Man in Back Side Walking away as background
Lands’ End is breaking up with Sears for Amazon
Lands’ End is breaking up with Sears for Amazon
London (Credit: iStock)
Europe’s development bank to remain in London, despite Brexit woes
Europe’s development bank to remain in London, despite Brexit woes
MRP Realty’s Bob Murphy and 1300 Viele Avenue in the Bronx (Credit: Google Maps)
Buy a warehouse. Lease it to Amazon. Triple your money
Buy a warehouse. Lease it to Amazon. Triple your money
Vector CEO Howard Lorber (Credit: Getty Images)
Blaming slow NYC sales, Elliman reports $10M loss in Q1
Blaming slow NYC sales, Elliman reports $10M loss in Q1
Sluggish sales market continues to bolster Manhattan rents: Elliman
Sluggish sales market continues to bolster Manhattan rents: Elliman
Sluggish sales market continues to bolster Manhattan rents: Elliman
Placeholder image
IA Test 3
IA Test 3
Placeholder image
IA test 2
IA test 2
arrow_forward_ios

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

Loading...