Market Insights

Commercial Real Estate Research and Analysis for
New York City

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Recent Reports | New York City

Market Report
3Q 2017 Manhattan Capital Markets Report

Transaction volume for all product types decreased in Manhattan through the third quarter of 2017, though capital values continued to appreciate across the office market.

Market Report
October 2017 Behind the Numbers

Even the most bullish market commentators are wondering how much fuel is left in the engine of recovery for Manhattan’s real estate market. But just how impressive has this latest market run really been? Following one of the biggest busts of all-time, has there been much of a boom in pricing at all, especially with Manhattan landlords digging deep to attract new tenants and retain existing ones with ever increasing work allowances and free rent periods?

Market Report
Mid-Year 2017 Manhattan Construction Report

Transactions totaling 1.83 MSF (greater than 15,000-SF) closed in new buildings built after 2010 or scheduled to be built post-2010, a 12.9% decrease from the 2.10 MSF leased during the second half of 2016, but nearly 75.0% above the 1.05 MSF leased in the first half of 2016.

Market Report
Mid-Year 2017 Manhattan Law Firm Report

Leasing by Manhattan’s law firms was up slightly, year-over-year, while year-to-date employment was stable. Through May 2017, legal services employment in New York City rose 0.6% from year-end 2016, compared to 1.1% growth for financial services employment during the same period.

Market Report
Mid-Year 2017 Manhattan Tech Report

Leasing in Manhattan’s technology sector was down year-over-year but well ahead of the second half of 2016. From year-end 2016 through May 2017, tech employment was lower by 3.6% compared to nearly flat growth for the overall Manhattan office sector.

Market Report
2Q 2017 Manhattan Capital Markets Report

After nearly 24 months of record-breaking volume, the Manhattan investment sales market witnessed a drop in activity through the first half of 2017. Foreign investors dominate the investment market as New York City continues to witness capital appreciation, liquidity and stronger returns than other global gateway markets.

Market Report
Mid-Year 2017 Midtown South Office Market Report

Demand in Midtown South during the first half of 2017 (1H 2017) remained stable but asking rents declined. Availability was up and absorption was negative for the third consecutive six-month period.

Market Report
2Q 2017 Brooklyn Office Market Report

Availability in Colliers’ “Brooklyn 30” decreased 1.1pp (percentage points) to 20.9% after several leases closed and sizable blocks were removed from the market.1 Year-over-year, availability dropped 0.7pp.

Market Report
Mid-Year 2017 Downtown Office Market Report

Downtown leasing activity during first-half, 2017 (1H 2017) was higher than any six month period in the past three years. Availability tightened, absorption was positive and the asking rent average reached a new record high.

Market Report
May 2017 NYC Monthly Snapshot

At 2.28 MSF, monthly leasing activity in Manhattan dropped by more than one-fourth with a steep decline in Midtown leasing.

Market Report
May 2017- Behind the Numbers -Class Warfare

The distinctions between the classes – A, B and C - were, for many years, relatively straightforward: Each appealed to a certain tenant base and pricing reflected grade. A lot has changed recently: The rent gap between the building classes has narrowed with new demand for B and C class buildings.

Market Report
1Q 2017 Manhattan Office Market Report

The Manhattan office market began 2017 with a new record-high asking rent average, tightening availability and near flat absorption, quarter-over-quarter.

Market Report
1Q 2017 Midtown Office Market Report

First quarter leasing in Midtown was stronger than in any quarter in the past two years. Quarterly asking rents were higher, availability tightened and absorption was slightly positive.

Market Report
1Q 2017 Midtown South Office Market Report

Midtown South began 2017 with historic high asking rents despite lower tenant demand. Quarterly availability for both direct and sublet space was up and first quarter absorption was negative for the third consecutive quarter.

Market Report
1Q 2017 Downtown Office Market Report

Downtown leasing activity in 1Q 2017 was higher than any quarter in more than three years. In addition to tighter availability and positive absorption, the quarterly asking rent average reached a new record high.

Market Report
1Q 2017 Brooklyn Office Market Report

Availability in Colliers’ “Brooklyn 30” decreased 1.7pp (percentage points) to 22.0% after strong first quarter leasing.1 Year-over-year, availability dropped 1.6pp.

Market Report
Year-End 2016 Manhattan Office Market Report

Manhattan full-year leasing activity was higher year-over-year.  Leasing in 2016 not only bested 2015, it also surpassed full year leasing from eight of the last ten years.

Market Report
Year-end 2016 Manhattan Construction Market Report

There is strong demand for office space in Manhattan’s newest buildings. Transactions totaling 2.86 MSF (greater than 15,000 SF) closed in buildings built since 2010, a 61.7% increase over 2015’s 1.77 MSF.

Market Report
Year-end 2016 Midtown Office Market Report

Aside from 2015’s slightly higher 16.71 MSF, 2016’s 16.66 MSF was Midtown’s strongest full-year leasing since 2003.  Asking rents in Midtown were higher year-over-year.  Availability was up modestly while absorption was negative. 

Market Report
Year-end 2016 Midtown South Office Market Report

Midtown South’s asking rent average increased year-over-year to a new record high despite higher availability and negative absorption. Tenant demand for Midtown South space continued and leasing activity was up for the year.

Market Report
Year-end 2016 Downtown Office Market Report

Downtown ended 2016 with a new record asking rent average, tighter availability and positive absorption.  Nonetheless, Downtown leasing was weaker in 2016 than it has been in five of the last ten years. 

Market Report
Year-end 2016 Brooklyn Office Market Report

The Brooklyn office market had another noteworthy year in its evolution from an industrial/back-office submarket into Manhattan’s fourth stand-alone market alongside Midtown, Midtown South and Downtown. 

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