Manhattan Office Prices per Square Foot
This chart shows the annual median recorded sale price per gross square foot for Manhattan office buildings. It uses NYC Department of Finance annualized sales files, excludes condo-office units and extreme or incomplete records, and should be read as a transaction-mix-sensitive administrative series rather than a constant-quality appraisal index.
What does it show?
Recorded Manhattan office sale prices remain far below their late-2010s level.
Methodology
Reads every Manhattan annualized-sales xlsx linked by NYC Department of Finance from 2018 onward. It keeps Building Class Category 21 (Office Buildings), requires a recorded sale price of at least $100,000 and positive gross square feet, computes nominal sale price divided by gross square feet for each record, removes ratios below $25 or above $5,000 per square foot as likely non-market, partial-interest, or data-error records, and plots the annual median. Condo office sales (category 43) are excluded because unit-level records do not provide a comparable building-area denominator. The files are administrative sale records, not an appraisal index; transaction mix and building quality change from year to year, and the latest complete annual file arrives with a lag.