New York City Market Report
New York City commercial real estate market report — 82,937,400 SF tracked across 190 buildings, 296 sale comparables, 1,210 lease comparables and 192 loans with 56 maturing before 2029.
Fundamentals by property type
| Property type | Buildings | Inventory SF | Vacancy | Avg asking rent | Rent YoY | Avg cap rate | Avg $/SF |
|---|---|---|---|---|---|---|---|
| Office | 140 | 74,305,200 | 21.1% | $78.15 | 4.9% | 7.29% | $244 |
| Multi-Family | 19 | 5,302,900 | 7.7% | $20.71 | -0.2% | 5.57% | $197 |
| Retail | 22 | 2,047,100 | 14.4% | $37.62 | 1.2% | 6.95% | $151 |
Recent sale comparables
| Date | Property | Type | Price | $/SF | Cap | Buyer |
|---|---|---|---|---|---|---|
| 2026-07-05 | 614 Broadway | Office | $12.27M | $607.28 | 6.07% | Zenith Real Estate |
| 2026-06-17 | 147 Madison Ave | Office | $58.35M | $268.77 | 8.11% | Dunmore Equities |
| 2026-06-17 | 1230 Seventh Ave | Multi-Family | $57.68M | $326.23 | 7.10% | Ironwood Capital Partners |
| 2026-06-09 | 392 E 42nd St | Multi-Family | $176.71M | $382.32 | 5.77% | Gulf Coast Realty Partners |
| 2026-05-30 | 466 W 34th St | Office | $120.88M | $628.61 | 8.61% | Lone Star Property Trust |
| 2026-05-24 | 1192 Broadway | Office | $55.5M | $400.41 | 4.65% | Greystone Holdings |
| 2026-05-18 | 22 Park Ave | Office | $74.91M | $296.31 | 8.28% | Lakeshore Realty Trust |
| 2026-05-09 | 551 W 57th St | Office | $9.61M | $110.25 | 6.30% | Hudson Gate Partners |
| 2026-05-08 | 1025 Hudson St | Retail | $10.05M | $154.16 | 6.69% | Juniper Real Estate |
| 2026-05-02 | 614 Broadway | Office | $8.97M | $444.31 | 6.05% | Hudson Gate Partners |
| 2026-04-06 | 786 Third Ave | Office | $1.09B | $721.57 | 6.07% | Kestrel Investment Group |
| 2026-03-04 | 774 W 34th St | Office | $124.5M | $717.96 | 4.55% | Aldergate Capital |
Debt and rollover exposure
192 loans totalling $10.68B are tracked against New York City assets. 56 of them, representing $3.36B, mature before January 2029. Separately, 733 tracked leases covering 13,694,830 SF expire in the same window.
Weighted average coupon on tracked New York City debt is 5.54% with average loan-to-value of 58.6%. See how to read a maturity schedule for the refinancing-gap method.
190 commercial properties are tracked in New York City, representing 82,937,400 SF of rentable building area, of which 16,463,600 SF is currently marketed as available.
Asking rents average $80.55 per square foot per year, the median marketed suite is 29,300 SF, and listings have been on market a median of 410 days.
The stock splits 76 Class A, 75 Class B, 39 Class C, with construction dates from 1905 to 2024 (median 1962).
The most concentrated submarkets are Financial District (20), Tribeca / SoHo (18), Plaza District (16), Times Square (16), Flatiron / Union Square (15).
Methodology
Fundamentals are computed from RealStarGlobal's tracked inventory for New York City and re-cut on each build (2026-08-26). Sale and lease comparables are the tracked transaction set for assets in this market; loan records derive from recorded mortgages and tracked lender reporting. Property-level inventory in this demonstration dataset is RealStarGlobal sample data — live market activity, deal flow and news come from the Acquirepad CRE intelligence feed. Registry and GIS provenance per jurisdiction is set out in the data sourcing plan. Definitions follow the conventions described in why providers disagree about submarkets.