Average asking rent for office space in Downtown Manhattan 2022-2023, by submarket

Published by Statista Research Department, Apr 29, 2024

Between 2022 and 2023, the Insurance District was the only submarket in Downtown Manhattan where the average office rent increased. The average asking rent for office space in Downtown Manhattan was the highest in Tribeca where a square foot of space cost 74.21 U.S. dollars to rent in the 4th quarter of 2023. The cheapest submarket to rent office space was City Hall with 50.31 U.S. dollars rent per square foot. 

Average asking rent for office space in Downtown Manhattan in 4th quarter 2022 and 4th quarter 2023, by submarket (in U.S. dollars per square foot)

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Release date

January 2024

Region

United States

Survey time period

Q4 2022 and Q4 2023

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