Midtown is a trophy-tier New York submarket with average asking rent around $128/sqft/yr.

  • Average asking rent: $128/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $102/sqft/yr ($102 USD).
  • Citywide vacancy: 17.4% — submarket-level availability is typically tighter at trophy tier.

Midtown, New York office rents and availability

Midtown is a trophy-tier New York submarket with average asking rent around $128/sqft/yr.

TL;DR

  • Average asking rent: $128/sqft/yr.
  • Tier: trophy.
  • Citywide Class A rent context: $102/sqft/yr ($102 USD).
  • Citywide vacancy: 17.4% — submarket-level availability is typically tighter at trophy tier.

Where rent sits

Midtown averages around $128/sqft/yr for Class A, against a citywide Class A index of 102. As a trophy submarket, rent runs above the city average and availability is structurally tight.

Availability dynamics

Park Avenue, Sixth Avenue, the global financial spine. Bulge-bracket investment banks, top-tier law firms, asset managers, family offices, global media headquarters.

Key facts

cityNew York
submarketMidtown
tiertrophy
averageRentLocal$128/sqft/yr
cityClassARentUsd$102/sqft/yr
cityVacancyPct17.4%

Frequently asked questions

What is the average Class A rent in Midtown, New York?
Around $128/sqft/yr. The citywide Class A index sits at $102/sqft/yr.

Related

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

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