new york Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from JLL, Colliers
Quarterly office market indicators for new york, aggregated by CREhunt from JLL, Colliers. As of Q1 2026, average asking rent was $83.51/SF/yr and vacancy was 13.5%, per JLL.
Projected current office pricing — new york
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for new york 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 Q1 2026 JLL asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~87% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 JLL | $83.51/SF/yr | 13.5% | 1.5M SF | — | JLL |
| Q3 2024 Colliers | $49.64/SF/yr | 22.1% | — | — | Colliers |
Frequently asked questions
- What is the average asking rent for office space in new york?
- As of Q1 2026, the average asking rent for office space in new york was $83.51/SF/yr, per JLL.
- What is the office vacancy rate in new york?
- The office vacancy rate in new york was 13.5% as of Q1 2026 (JLL).
- Where does CREhunt's new york market data come from?
- This report aggregates quarterly office market data for new york from JLL, Colliers.