New York City Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , CBRE
Quarterly office market indicators for New York City, aggregated by CREhunt from , CBRE. As of Q1 2026, average asking rent was $45.36/SF.
Projected current office pricing — New York City
Projected asking rent
$45.36/SF/yr
Estimated sale value
$321–$417/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 multiple brokerages data (cap rate 6.5%, 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 | — | — | — | |
| Q1 2026 | $45.36/SF | — | — | — | CBRE |
Frequently asked questions
- What is the average asking rent for office space in New York City?
- As of Q1 2026, the average asking rent for office space in New York City was $45.36/SF.
- What is the office vacancy rate in New York City?
- Vacancy data for New York City office is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's New York City market data come from?
- This report aggregates quarterly office market data for New York City from CBRE.
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