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August 2017 » 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 | 14.46 | 2.42 | 16.88 | 9.2 % | -3.42 % |
| Midtown South Manhattan Office Class A | 0.43 | 0.08 | 0.51 | 4.6 % | -0.59 % |
| Downtown Manhattan Office Class A | 5.8 | 0.47 | 6.27 | 9.7 % | -2.9 % |
| Total Manhattan Office Class A | 20.69 | 2.97 | 23.66 | 9.1 % | -3.22 % |
| 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 | 25.7 | 5.1 | 30.79 | 12.72 % | -3.42 % |
| Midtown South Manhattan Office Class A | 1.51 | 0.45 | 1.96 | 10.88 % abc | -0.59 % |
| Downtown Manhattan Office Class A | 10.73 | 1.35 | 12.08 | 13.6 % | -1.8 % |
| Total Manhattan Office Class A | 37.94 | 6.9 | 44.84 | % | -1.83 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.42 million RSF to 23.66 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.33 million RSF to 36.8 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.26 | 3.34 | 22.6 | 8.5 % | -2.19 % |
| Midtown South Manhattan Office | 5.41 | 0.83 | 6.24 | 7.1 % | 1.76 % |
| Downtown Manhattan Office | 7.35 | 0.62 | 7.96 | 8.5 % | -1.8 % |
| Total Manhattan Office | 32.02 | 4.79 | 36.8 | 8.2 % | -1.43 % |
| 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 | 33.71 | 6.71 | 40.42 | 11.84 % | -2.19 % |
| Midtown South Manhattan Office | 9.03 | 2.39 | 11.42 | 10.63 % abc | 1.76 % |
| Downtown Manhattan Office | 13.32 | 1.61 | 14.93 | 11.77 % | -0.86 % |
| Total Manhattan Office | 56.06 | 10.71 | 66.77 | % | -1.84 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.74 million RSF to 32.02 million RSF.
- Manhattan Office Sublease vacancy increased from 4.59 million RSF to 4.79 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.33 million RSF to 36.8 million RSF
- Total Midtown Office vacancy decreased from 23.09 million RSF to 22.6 million RSF
- Total Midtown South Office vacancy increased from 6.13 million RSF to 6.24 million RSF.
- Total Downtown Office vacancy decreased from 8.11 million RSF to 7.96 million RSF
