CBRE: Downtown New York City rents stay firm in June
According to CBRE’s latest Marketview Snapshot of the office market in New York City’s Downtown, average asking rents were USD57.19 per square foot per month in June 2015, up from USD57.02 in May and USD49.04 in June 2014. June was, therefore, the tenth consecutive month in which rents have exceeded USD50/ square foot per month. Total leasing activity in 1H15 was 2.01mn square feet, or 43% lower than in 1H14. The availability rate has slipped from 12.7% in June 2014 to 12.3% in May 2015 to 12.0% in June 2015. Sub-lease availability stands at 1.3%.
Source : August 2015/CBRE/New York City/OFF