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April 2016 » Market Analysis » New York Office Report
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NYC Office Space Graphs and Statistics
| NEW YORK CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office Class A | 14.47 | 1.94 | 16.41 | 8.6 % | 3.33 % |
| Midtown South Manhattan Office Class A | 0.15 | 0.06 | 0.2 | 2.1 % | 16.67 % |
| Downtown Manhattan Office Class A | 7.28 | 0.37 | 7.66 | 10.6 % | -1.36 % |
| Total Manhattan Office Class A | 21.9 | 2.37 | 24.27 | 8.8 % | 1.97 % |
| NEW YORK CLASS A OFFICE VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office Class A | 25.5 | 3.51 | 29.0 | 12.08 % | 3.33 % |
| Midtown South Manhattan Office Class A | 0.56 | 0.1 | 0.65 | 4.13 % abc | 16.67 % |
| Downtown Manhattan Office Class A | 10.3 | 1.15 | 11.46 | 13.25 % | -0.01 % |
| Total Manhattan Office Class A | 36.35 | 4.75 | 41.11 | % | -0.07 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.79 million RSF to 24.27 million RSF
- Total Manhattan Office Market vacancies increased from 36.05 million RSF to 36.81 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.07 | 2.54 | 21.61 | 8.0 % | 3.11 % |
| Midtown South Manhattan Office | 5.0 | 0.59 | 5.59 | 6.8 % | 3.9 % |
| Downtown Manhattan Office | 9.05 | 0.56 | 9.61 | 9.0 % | -1.29 % |
| Total Manhattan Office | 33.12 | 3.7 | 36.81 | 8.0 % | 2.08 % |
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office | 32.39 | 4.91 | 37.29 | 11.06 % | 3.11 % |
| Midtown South Manhattan Office | 7.96 | 1.34 | 9.3 | 8.86 % abc | 3.9 % |
| Downtown Manhattan Office | 13.22 | 1.43 | 14.65 | 11.75 % | 0.42 % |
| Total Manhattan Office | 53.57 | 7.67 | 61.24 | % | 0.42 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 32.66 million RSF to 33.12 million RSF.
- Manhattan Office Sublease vacancy increased from 3.38 million RSF to 3.7 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.05 million RSF to 36.81 million RSF.
- Total Midtown Office vacancy increased from 20.94 million RSF to 21.61 million RSF.
- Total Midtown South Office vacancy increased from 5.37 million RSF to 5.59 million RSF.
- Total Downtown Office vacancy decreased from 9.73 million RSF to 9.61 million RSF
