房地产 -曼哈顿中城办公室数据2025年12月 Manhattan Midtown Office Figures December 2025

CBRE

FIGURES|MIDTOWNMANHATTANOFFICE|DECEMBER2025

Year-to-dateleasingactivityhit17.4millionsq.ft.–

highestlevelsince2006

1.51M

LeasingActivity

0.49M

NetAbsorption

14.0%

AvailabilityRate

Note:Arrowsindicatechangefrompreviousmonth.

QUICKFACTS

-Leasingactivitytotaled1.51millionsq.ft.inNovember,21%aheadofthefive-yearmonthlyaverageof1.24millionsq.ft.

-Year-to-dateleasingactivityamountedto17.41millionsq.ft.,up21%fromtheprioryear.

-Renewalstotaled279,000sq.ft.inNovember,bringingtheyear-to-datetotalto3.99millionsq.ft.

-Theavailabilityratefell20basispoints(bps)fromlastmonthto14.0%andwasdown310bpsfromayearago.

-Netabsorptionwaspositive487,000sq.ft.inNovember,bringingtheyear-to-datetotalto6.36millionsq.ft.

-At$83.34persq.ft.,theaverageaskingrentwasflatmonth-over-monthandyear-over-year.

-Thesubleaseavailabilityratewasdown10bpsfromlastmonthto2.6%,withtheaverageaskingrentunchangedfromoneyearagoat$63.17persq.ft.

10.7%

VacancyRate

$83.34

AverageAskingRent

FIGURE1:TopLeaseTransactionsforNovember2025

Size

(Sq.Ft.)

153,915

Deal

Type

Direct/

Sublet

Tenant

Address

RE

D

INGGroup

1133AvenueoftheAmericas

132,693

L

D

Rippling

330West34thStreet

81,876

L

D

EliseAI

401FifthAvenue

75,566

L

S

WillisTowersWatson

1325AvenueoftheAmericas

60,427

E

S

JPMorganChase

390MadisonAvenue

Source:CBREResearch,December2025.Lease(L),Renewal(R),Expansion(E),RenewalandExpansion(RE)

1CBRERESEARCH©2025CBRE,INC.

FIGURES|MIDTOWNMANHATTANOFFICE|DECEMBER2025

2CBRERESEARCH©2025CBRE,INC.

FIGURE2:MidtownMarketActivity

Nov.2025Oct.2025Nov.2024YTD2024YTD2025

LeasingActivity

1.51MSF

1.62MSF

1.49MSF

14.37MSF

17.41MSF

Renewals

0.28MSF

0.23MSF

0.62MSF

6.83MSF

3.99MSF

Absorption

0.49MSF

0.81MSF

0.25MSF

2.57MSF

6.36MSF

AvailabilityRate

14.0%

14.2%

17.1%

VacancyRate

10.7%

10.9%

12.9%

AverageAskingRent

$83.34PSF

$82.78PSF

$84.07PSF

TakingRentIndex

95.7%

95.4%

92.2%

Source:CBREResearch,December2025.

MajorNewAvailabilities

-204,000sq.ft.ofdirectspaceat1211AvenueoftheAmericas

-122,000sq.ft.ofSimon&Schuster,Inc.subletspaceat1230AvenueoftheAmericas

-113,000sq.ft.ofdirectspaceat340MadisonAvenue

-69,000sq.ft.ofdirectspaceat1133AvenueoftheAmericas

-61,000sq.ft.ofIndeedsubletspaceat1120AvenueoftheAmericas

Total

Size(MSF)

Submarket

No.of

Buildings

1

TimesSq./WestSide

31.4

44

2

Plaza

10.6

22

3

SixthAvenue/Rockefeller

44.2

46

4Fifth/Madison11.527

5ParkAvenue30.637

6EastSide20.544

7GrandCentral45.384

8TimesSq.South19.548

9PennDistrict/HudsonYards35.837 TOTALINVENTORY249.5389

FIGURES|MIDTOWNMANHATTANOFFICE|DECEMBER2025

Definitions

Availability:Spacethatisbeingactivelymarketedandisavailablefortenantbuild-outwithin12months.Includesspaceavailableforsubleaseaswellasspaceinbuildingsunderconstruction.

AskingRent:Weightedaverageaskingrent.

ConcessionValues:ThecombinationofrentabatementandT.I.allowance.Thegraphisfornewleasesforrawspaceof25,000sq.ft.orgreaterconsummatedyear-to-date,thisexcludesexpansionandrenewaldeals.

LeasingActivity:Totalamountofsq.ft.leasedwithinaspecifiedperiodoftime,includingnewdeals,expansions,andpre-leasing,butexcludingrenewals.

LeasingVelocity:Totalamountofsq.ft.leasedwithinaspecifiedperiodoftime,includingnewdeals,expansions,andpre-leasingandrenewals.

NetAbsorption:Thechangeintheamountofcommittedsq.ft.withinaspecifiedperiodoftime,asmeasuredbythechangeinavailablesq.ft.

RentAbatement:Thetimebetweenleasecommencementandrentcommencement.

TakingRent:Actual,initialbaserentinaleaseagreement.

TakingRentIndex:Initialtakingrentsasapercentageofaskingrents.

Definitions

T.I.:Tenantimprovements.

Vacancy:Unoccupiedspaceavailableforlease.

PercentageofLeasingbyIndustry:Thepercentageofsq.ft.leasedbyanindustrybasedontransactionswhereatenantandindustryhavebeenconfirmed.

SurveyCriteria

CBRE’smarketreportanalyzesfullymodernizedofficebuildingsthattotal150,000+sq.ft.inMidtown,includingowner-occupiedbuildings(exceptthoseownedandoccupiedbyagovernmentorgovernmentagency).Newconstructionmustbeavailablefortenantbuild-outwithin12months.CBREassemblesallinformationthroughtelephonecanvassingandlistingsreceivedfromowners,tenantsandmembersofthecommercialrealestate

brokeragecommunity.

Co