FOR IMMEDIATE RELEASE | GREENWICH, CT — October 16, 2026
Premium Greenwich space commands higher asking rents, but owners and investors must look beyond the headline price.
Greenwich office asking rents climbed 13.1% over the year to $53.12 per square foot in the third quarter of 2026, according to Cushman & Wakefield, even as the broader Fairfield County office market posted 182,117 square feet of negative net absorption. The split raises a timely question for building owners and buyers: which locations can sustain premium prices once vacancies and capital costs are considered?
The research firm reported average asking rents of $98.51 per square foot in the Greenwich central business district, compared with $35.39 countywide. These figures are asking rents, not completed lease rates after free rent, tenant-improvement allowances or other concessions.
Fairfield County office vacancy was 25.8% in the quarter. While the countywide figure does not describe each Greenwich building, it underscores the risks of applying premium-address assumptions to properties with different tenants, lease maturities and renovation needs.
For buyers assessing office or mixed-use acquisitions, the key underwriting questions include rollover exposure, tenant credit, building operating costs, tenant improvements, future capital expenditure and the cost of refinancing. A proposed conversion or repositioning strategy must also be tested against zoning and financing feasibility.
For tenants, the best choice may be determined as much by build-out obligations, flexibility and total occupancy expense as by advertised rent. For landlords, renewals and retention can be as consequential as securing a headline rental rate.
Blaise Punturo Real Estate advises evaluating each transaction on net operating income, likely future capital needs and lease terms rather than using a high-profile submarket average as a substitute for property-level analysis.
“After more than 30 years in real estate and finance, I believe the strongest commercial investments are made by understanding cash flow, financing costs, and long-term property value—not simply following market trends.”
— Blaise Punturo, Founder and Principal
About Blaise Punturo Real Estate LLC
Blaise Punturo, Founder and Principal, brings over 30 years of experience in real estate and finance, including property acquisitions, investment analysis, capital raising, and international transactions. The firm serves residential and commercial clients in Fairfield County, Connecticut, and Palm Beach County, Florida.
Media contact: Blaise Punturo, Founder and Principal | 917-797-1913 | blaise@blaisepunturorealestate.com
351 Greenwich Avenue, Greenwich, CT 06830
515 North Flagler Drive, Suite 350, West Palm Beach, FL 33401
Market data source: Cushman & Wakefield, Fairfield County Office MarketBeat, Q3 2026.