Prepared for Alternative Payments · Market Update · August 2026

The market moved. Your tour list is ready.

Since our May overview, Manhattan leased 10.8 million square feet in a single quarter, availability tightened to 14.5%, and four of the thirteen spaces we first showed you were taken off the board. With the search now live, here are eleven fresh options sized to where the team is heading, ready to tour.

Read the Q2 update See the eleven Build your tour list
11 spaces
Curated to tour · from $42/SF
14.5%
Manhattan availability · down from 17.6%
$80.42
Average asking rent · Q2 2026
4 of 13
May options leased within the quarter
10.8M SF
Q2 leasing volume, one of the strongest quarters in years
<11M SF
Sublease inventory, down from a 23M SF peak
719,200 SF
AI leasing across 21 deals YTD, ~70% Midtown South
94.8%
Taking-rent index; landlords holding near ask
01 The Market Update · Q2 2026

Demand-led. AI-fueled. Faster than the listings.

Our Q2 report tells one story: AI and growth-tech tenants pulled premium space off the board faster than landlords could re-list it. Availability fell to 14.5% from 17.6% a year ago, asking rents held near $80, and the sublease discount tenants keep waiting for is not showing up. Sierra took 94,000 SF in NoMad, Adyen 90,000 SF in Flatiron, and Anthropic signed the entire 466,000 SF building at 330 Hudson.

14.5%
Overall availability, down from 17.6% a year ago
$80.42
Average asking rent per SF, Q2 2026
+4.4M SF
Net absorption year to date
8.8M SF
Tech & media requirements, 22.1% from AI
4 / 13
Four of the thirteen spaces in our May survey leased within the quarter, including two of our top value picks, the $51 build-to-suit at 104 West 27th and the $61 furnished floor at 145 West 28th. This is what 10.8M SF of quarterly demand looks like at your size range: the good floors clear in weeks.

Availability by submarket, Q2 2026

Lower means tighter supply. Your corridor sits between the borough average and Midtown South.

SoHo13.5%
Manhattan overall← the borough14.5%
Midtown South17.1%
Hudson Square17.8%

Q2 2026 submarket reads per the Nomad Group Q2 report; not perfectly comparable across research desks. Bars scaled to a 20% axis.

Read the full Q2 report ↗ The Manhattan Office Report · Nº 2026 · Q2 · published July 2026
02 The Map

Every option, plotted around your current floor.

The live map now shows three groups: the eleven newly added tour options, the base market overview from May, and 44 West 37th at the center. Pricing, floorplates, and neighborhood at a glance, every brochure one click away.

Open the full Map Overview ↗
Newly added · base overview · current location
03 The Tour · Eleven Fresh Options

Eleven spaces worth seeing in person.

Refreshed for where the search stands today, ranked by value (asking $/SF), from the 9,184 SF Chanin Building floor at $42 to the furnished corner unit at 19 West 44th. Open any brochure, then tap Add to tour on the ones worth walking; your list builds as you go and sends to Nomad in one click.

04 The Value Thesis · Updated for Q2

Still priced below the curve.

The value story held through the quarter. Every one of the eleven tour options prices below the $80.42 Q2 borough average; the star marks the Chanin Building floor at $42. Violet dots are tour picks, rings are the May overview spaces still available, gray is the wider market. Click any violet point to open its brochure.

Tour pick (click to open) May overview, still available Market comp, by building
$80 Q2 avg ask $40 $60 $80 $100 $120 $140 461 Fifth Ave · $105/SF 1250 Broadway · $99/SF 41 Madison Ave · $99/SF Penn 1 Plaza · $110/SF 285 Madison Ave · $85/SF 140 East 45th · $120/SF 104 West 40th · $73/SF 366 Madison Ave · $80/SF 264 West 40th · $42/SF 10 East 40th · $70/SF 120 West 45th · $85/SF 55 West 46th · $110/SF 155 East 44th · $115/SF One Penn Plaza · $115/SF Penn 2 · $145/SF 120 West 45th · $75/SF 530 Fifth Ave (sublease) · $75/SF 9 East 37th · $48/SF 875 Sixth Ave · $92/SF 220 Fifth Ave · $105/SF 15 West 27th · $69/SF 72 Madison Ave · $65/SF (overview - click to open) 33 East 33rd · $65/SF (overview - click to open) 132 West 31st · $69/SF (overview - click to open) 270 Madison (6th) · $72/SF (overview - click to open) 1450 Broadway · $80/SF (overview - click to open) 1185 Sixth Ave · $83/SF (overview - click to open) 122 East 42nd (Chanin) · $42/SF (tour pick - click to open) 22 West 27th · $59/SF (tour pick - click to open) 99 Madison Ave · $64/SF (tour pick - click to open) 110 East 42nd · $65/SF (tour pick - click to open) 275 Seventh Ave · $65/SF (tour pick - click to open) 45 West 45th · $66/SF (tour pick - click to open) 270 Madison (7th) · $66/SF (tour pick - click to open) 29 West 30th · $67/SF (tour pick - click to open) 180 Madison Ave · $69/SF (tour pick - click to open) 535 Fifth Ave · $75/SF (tour pick - click to open) 19 West 44th · $76/SF (tour pick - click to open) Lower price per foot Higher
11 / 11

Tour options below the Q2 average.

Every space on the tour list prices under the $80.42 borough average asking rent.

~19%

Average tour discount vs. that average.

The eleven average about $65/SF against the $80.42 Q2 mean, capital that stays in the business.

$42 to $76

The tour range.

From the Chanin Building's 9,184 SF corner floor to the furnished 19 West 44th corner unit.

05 The Full Overview

What remains from the May survey.

Six of the original thirteen are still available and still worth a look alongside the tour list. Four leased within the quarter and have been removed; the rest carry the same brochures, floor plans, and pricing as before, and can be added to your tour list the same way.

$65/SF ask
The 9th-floor sublease runs in parallel. 44 West 37th, 3,152 SF at a $54 in-place rent, marketed furnished from a November 1 commencement. Floor case recovers 95% of the ~$326K obligation; likely and strong cases finish $20K and $54K ahead. Any free rent offered a subtenant is offset against free rent on your expansion lease, and with Nomad engaged on the expansion there is no in-house brokerage fee on the sublease.
Sublease status →
06 Send Your Tour List

Pick the spaces. We book the walkthroughs.

Every space you add lands here. When the list looks right, send it through and we will sequence the tours, typically same-week, routed to minimize walking time between buildings.

No spaces selected yet. Tap Add to tour on any card above, or open a brochure and add it from there.
Send list to Nomad →
Goes to Nicholas Hein and William Janetschek at Nomad Group. Your selections stay saved on this page until you change them.
Tour list: 0Review & send