New York City Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE
Quarterly office market indicators for New York City, aggregated by CREhunt from CBRE. As of Q2 2026, average asking rent was $61.34/SF/yr and vacancy was 13.7%, per CBRE.
Projected current office pricing — New York City
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for New York City office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 CBRE asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~86% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 CBRE | $61.34/SF/yr | 13.7% | 2.2M SF | — | CBRE |
| Q1 2026 CBRE | $45.36/SF/yr | — | — | — | CBRE |
Frequently asked questions
- What is the average asking rent for office space in New York City?
- As of Q2 2026, the average asking rent for office space in New York City was $61.34/SF/yr, per CBRE.
- What is the office vacancy rate in New York City?
- The office vacancy rate in New York City was 13.7% as of Q2 2026 (CBRE).
- Where does CREhunt's New York City market data come from?
- This report aggregates quarterly office market data for New York City from CBRE.