Manhattan Office Availability Falls to 13.0%, Tightest Since 2020
CIGI•Manhattan office availability fell to 13.0% in Q2 2026, the lowest level since October 2020. Direct availability dropped to 11.8% as sublease listings represented 1.2% of total inventory.
1. Q2 2026 Availability Decline
Manhattan’s overall office availability rate contracted to 13.0% in Q2 2026, its lowest reading since October 2020, reflecting stronger leasing demand and reduced vacancy across key submarkets.
2. New Supply Absorbed Quickly
Approximately 750,000 square feet of new office completions were delivered during the quarter, with lease-up activity absorbing most of the fresh inventory and preventing any material rise in vacancy.
3. Benefits for Brokerage Firms
Tighter availability and accelerated leasing velocity are likely to boost demand for brokerage and advisory services, positioning commercial real estate firms such as Colliers International to gain from increased transaction volumes.
