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Q3 2022 Westchester County Office Market Snapshot

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Westchester County continues its path to recovery and posted one of its highest-yielding quarters since 2017. 

As demand continues to be strong, average asking rents in the third quarter remained virtually unchanged at $30.50/SF and the availability rate decreased by 90 basis points (bps) or 272,590 SF quarter-over-quarter. Tenants continue to demand higher-end spaces and Class A office space accounted for 78.1% of all the leasing activity during the third quarter. In addition to the continued flight to quality, tenants also gravitated towards the locations closest to NYC and properties near transportation hubs and downtowns. Properties exhibiting these characteristics, constantly demonstrate the lowest availability rates.

 

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Q3 2022 Westchester County Office Market Snapshot

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Lars Remole

Research Analyst

Stamford

Responsible for providing research and analytical services for all the brokers in the Fairfield/Westchester County and Long Island markets to ensure appropriate positioning, informed actions, strategic targeting, and smart decision-making.

Collect and analyze market information and economic events.

Produce market publications, research papers, requests for proposals, and ad hoc reports.

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