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, per Survey.

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 PropZone's New York City market data come from?

This report aggregates quarterly office market data for New York City from Survey, CBRE.

New York City Office Market Report

By PropZone Research · Data through Q1 2026 · Aggregated from Survey, CBRE

Quarterly office market indicators for New York City, aggregated by PropZone from Survey, CBRE. As of Q1 2026, average asking rent was $45.36/SF.

Projected current office pricing — New York City

low confidence

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 Survey 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	—	—	—	Survey
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, per Survey.
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 PropZone's New York City market data come from?: This report aggregates quarterly office market data for New York City from Survey, CBRE.

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