Commercial Real Estate Market in Nyc, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
5,834 active listings and 33,857 off-market properties in Nyc, NY. Commercial property asks $1,193/SF to buy and $45.76/SF/Yr to lease.
Market Trends
Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Nyc, NY asks $50.36/SF/Yr to lease; the median asking sale price is $802/SF. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Retail space in Nyc, NY has a median asking sale price of $646/SF. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Industrial
Industrial vacancy in Nyc, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Multifamily
Multifamily space in Nyc, NY has a median asking sale price of $709/SF. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Market overview
Tools
Lease vs Buy Breakeven
At $45.76/SF/Yr lease vs $1,193/SF buy → buying wins if held > 22.4 years.
At a 3.8% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| New York | $1,193 | $45.76 |
| Hoboken | $698 | $51.90 |
| Long Island City | $783 | $42.00 |
Commercial property in Nyc, NY asks $1,193/SF. The 3 bordering markets run from $698/SF in Hoboken to $1,193/SF in New York, and the city sits above their $783/SF median.
Frequently Asked Questions
What is the median price per square foot for commercial property in Nyc?
How much does it cost to lease commercial space in Nyc?
Is it cheaper to lease or buy commercial space in Nyc?
How does Nyc compare to nearby markets on price?
Where does Realmo's Nyc market data come from?
Methodology & data sources
- Asking prices and medians
- There are 3,637 active for-sale and 2,197 active for-lease listings in Nyc, NY. The medians are based on 1,488 of the for-sale and 64 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
