Highlights
- The average rent for office space in Syracuse is $16.37 per square foot, 4.10% higher compared to the previous year.
- The market’s vacancy rate stands at 23.69%, higher than the state average of New York, which is 18.11%.
2025 Office Space Rent & Sales
- $16.37 2025 Avg. Asking Rent
- 4.10% Y-o-Y Avg. Asking Rent Change
- 23.69% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Syracuse?
Average asking rents for office space here stand at $16.37 per square foot. The local office market recorded an average vacancy rate of 23.69% in 2025, unchanged from 23.69% in 2024.
Syracuse, NY Office Asking Rents by Class
What is the average office rent per square foot by property class in NY?
- Avg. Asking Rent Class A & A+$55.44
- Avg. Asking Rent Class B$43.40
- Avg. Asking Rent Class C$32.95
For comparison, the average rent for Class A and A+ office space in New York was $55.44 per square foot. The state-wide average for Class B space was $43.40 per square foot, and Class C office spaces averaged $32.95 per square foot.
Syracuse, NY Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Lakefront | $20.00 | 17.05% |
| Northside | $16.85 | 11.23% |
| I-81 North Corridor | $16.69 | 35.02% |
| Westside | $16.26 | 32.39% |
| Downtown | $16.13 | 22.88% |
| Eastside | $16.07 | 26.47% |
| Southside | $15.00 | 44.17% |
2025 Office Construction in Syracuse, NY
- Syracuse, NY Total SF completed in 2025 91,000
How much office space was built in Syracuse in 2025?
What are the largest recent office completions in Syracuse?
The largest recent office completion here is One Park Place at 292,820 square feet, completed in 1983. The next largest completions are State Tower and 2 Clinton Square.
| Office building | Address | SF | Completed |
|---|---|---|---|
| State Tower | 109 South Warren Street, 13202 | 181,000 | 2018 |
| Washington Station | 333 West Washington Street, 13202 | 126,000 | 2010 |
| Central New York Medical Center | 739 Irving Avenue, 13210 | 111,634 | 1996 |
| 2 Clinton Square | 2 Clinton Square, 13202 | 170,000 | 1990 |
| 205 South Salina Street | 205 South Salina Street, 13202 | 40,000 | 1988 |
| MPE Office Products Building | 709 Erie Boulevard West, 13204 | 8,240 | 1985 |
| One Park Place | 300 South State Street, 13202 | 292,820 | 1983 |
| Presidential Plaza - 600 East Genesee Street | 600 East Genesee Street, 13202 | 55,000 | 1980 |
| 344 West Genesee Street | 344 West Genesee Street, 13202 | 39,245 | 1980 |
| 2005 W Genesee St | 2005 W Genesee St, 13219 | 2,920 | 1975 |
See reports for other markets
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.