Tristate Market Overview Report
Q4 CRE LEASE REPORT
Large, Long-Term Commitments Returned
as Tenants Prioritized Premium Space
Quality, location, and amenities remained the defining drivers of Q4 deal volume.
Key Takeaways
A data-driven snapshot of New York City’s commercial leasing performance.
Total Deals
Total SF Leased
Total No of Bulidings
2,090
↓ 12.73% vs Q3 2025
14,211,329
↑ 4.36% vs Q3 2025
1,490
↓ 12.76% vs Q3 2025
Q4 2025 Lease Report
A data-driven snapshot of New York City’s commercial leasing performance.
14.2M SF Leased
Across NYC in Q4 2025
2,090 Deals
Signed
↑ 10,23% Total SF Leased
Manhattan QoQ
↓ 34.19% Total Deals
Queens QoQ
61,525 SF Leased in Q4 2025
TSC Performance
Reports Library
Tri State Commercial’s research team delivers data-driven insights that help investors, landlords, and tenants make informed decisions in New York City’s ever-evolving commercial real estate market. Our quarterly and annual reports analyze key leasing trends, pricing, and market performance across all boroughs.
Q3 2025 CRE Lease Report
Date: July 15 2025
Summary: Over 3M SF of space. Driving rents up and vacancies down, signaling renewed market strength.
Q2 2025 CRE Lease Report
Date: August 15 2025
Summary: NYC leasing activity was steady but modest in Q2, with stable rents and cautious tenant movement. Availability remained elevated, reflecting a slow-but-consistent market.
Methodology Overview
Data Sources
- Internal TSC brokerage records
- Public leasing databases
- CoStar, REBNY, NYC Department of Buildings
Time frame covered
- Primary reporting window: Q2–Q3 2025
Limitations
- Off-market / unreported deals may not be captured.
- Data updates may occur as additional leases are finalized.
Property Types Analyzed
- Office
- Retail
- Industrial
Analytical Framework
- Total deals
- Total SF leased
- Average deal size
- Asking rent per SF
- Notable transactions