Long Island’s large office spaces continue to exhibit elevated availability rates

Long Island total availability rate by office building size

• The availability gap between larger and smaller office properties in Long Island has remained substantial since the onset of the pandemic, with properties exceeding 50,000 square feet exhibiting significantly higher levels of available space. 

 

• The average availability rate for office properties ranging from 20,000 to 50,000 square feet is 7.9%, representing a 5.5% decrease compared to the average availability rate for properties exceeding 50,000 square feet, currently standing at 13.4%.

February 22, 2024

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