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December 2019 » Market Analysis » New York Office Report
Market Analysis
NYC Office Space Graphs and Statistics
| NEW YORK CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet) |
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| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office Class A | 12.4 | 2.61 | 15.0 | 8.4 % | -4.57 % |
| Midtown South Manhattan Office Class A | 0.94 | 0.07 | 1.01 | 9.6 % | 29.17 % |
| Downtown Manhattan Office Class A | 5.69 | 0.67 | 6.36 | 9.6 % | -7.35 % |
| Total Manhattan Office Class A | 19.03 | 3.34 | 22.37 | 8.7 % | -3.84 % |
| NEW YORK CLASS A OFFICE VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
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| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office Class A | 26.89 | 5.48 | 32.37 | 12.77 % | -4.57 % |
| Midtown South Manhattan Office Class A | 2.25 | 0.4 | 2.65 | 12.3 % abc | 29.17 % |
| Downtown Manhattan Office Class A | 8.51 | 2.14 | 10.65 | 11.99 % | 0.06 % |
| Total Manhattan Office Class A | 37.65 | 8.02 | 45.67 | % | -2.97 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.23 million RSF to 22.37 million RSF.
- Total Manhattan Office Market vacancies decreased from 32.99 million RSF to 32.98 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
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| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.56 | 3.15 | 19.7 | 7.9 % | -1.29 % |
| Midtown South Manhattan Office | 4.29 | 0.76 | 5.05 | 7.2 % | 9.32 % |
| Downtown Manhattan Office | 7.38 | 0.85 | 8.23 | 8.6 % | -2.68 % |
| Total Manhattan Office | 28.23 | 4.76 | 32.98 | 8.6 % | -0.01 % |
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
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| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office | 33.47 | 7.26 | 40.73 | 11.64 % | -1.29 % |
| Midtown South Manhattan Office | 4.29 | 0.76 | 5.05 | 4.77 % abc | 9.32 % |
| Downtown Manhattan Office | 11.13 | 2.48 | 13.61 | 10.7 % | 1.33 % |
| Total Manhattan Office | 48.89 | 10.5 | 59.4 | % | 13.46 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 28.68 million RSF to 28.23 million RSF.
- Manhattan Office Sublease vacancy increased from 4.31 million RSF to 4.76 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 32.99 million RSF to 32.98 million RSF
- Total Midtown Office vacancy decreased from 19.96 million RSF to 19.7 million RSF
- Total Midtown South Office vacancy increased from 4.58 million RSF to 5.05 million RSF.
- Total Downtown Office vacancy decreased from 8.45 million RSF to 8.23 million RSF
