New York City Area Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from CBRE, , , Colliers
Quarterly office market indicators for New York City Area, aggregated by CREhunt from CBRE, , , Colliers. As of Q1 2026, average asking rent was $45.36/SF.
Projected current office pricing — New York City Area
Projected asking rent
$45.36/SF/yr
Estimated sale value
$464–$603/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 CBRE data (cap rate 4.5%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $45.36/SF | — | — | — | CBRE |
| Q1 2025 | $47.63/SF | 9.1% | 259K SF | — | |
| Q4 2020 | — | 3.8% | 168.8M SF | — | |
| Q3 2019 | $52.33/SF | — | 351K SF | — | Colliers |
| Q2 2016 | $27.18/SF | 8.4% | 240K SF | — |
Frequently asked questions
- What is the average asking rent for office space in New York City Area?
- As of Q1 2026, the average asking rent for office space in New York City Area was $45.36/SF, per CBRE.
- What is the office vacancy rate in New York City Area?
- Vacancy data for New York City Area office is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's New York City Area market data come from?
- This report aggregates quarterly office market data for New York City Area from CBRE, Colliers.
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