Long Island office market reports
Q3 2023
Net absorption
Q3 experienced a second consecutive month of positive net absorption, with positive absorption increasing 163.8k sf compared to Q2.
Asking Rents
Overall asking rents saw a decrease of -0.8% due to a -1.3% decrease from Nassau County and a 0.4% increase from Suffolk County.
Available Space
Total available space is down 180k sf from Q2. Direct available space is currently at 5.6 msf and direct sublet space is currently at 1.2 msf. This is indicative of an overall 12.5% availability rate.
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Get in-depth office market reports and insights from commercial real estate experts in the Greater Long Island area. Avison Young advisors look at Long Island commercial real estate activities and the latest Long Island statistics to provide you expert market research on Long Island's office properties.
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