Market Report: Flatiron & NoMad Lead Q1 NYC Leasing
The Q1 2022 Market Report provides an economic snapshot of the district from January through March 2022.
Flatiron saw NYC’s largest office lease of the quarter with IBM’s investment at One Madison. Commercial office leasing volumes doubled compared to Q4 2021 and availability rates decreased, a first since the pandemic started. Midtown South, which includes Flatiron & NoMad, saw average asking rates surpass Midtown’s for the first time.
30 new ground floor retail leases were signed this quarter with the majority in the food and beverage category.
Read the full Q1 2022 Market Report