Manhattan’s available sublease space has seen consistent quarterly decreases since this time last year

Available sublease space in Manhattan, currently totaling 20.6 million square feet (msf), has experienced quarter-over-quarter declines since Q1 2023.

Year-over-year, Trophy sublease space has decreased by 4.5%, Class A by 14.5%, and Class B/C by 27.3%.

As the demand for sublease space persists, we anticipate a further decline in the available sublease space.

February 22, 2024

US-NY-NYC New York