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February 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 | 15.52 | 1.56 | 17.08 | 9.1 % | -0.42 % |
| Midtown South Manhattan Office Class A | 0.53 | 0.01 | 0.54 | 4.6 % | 44.32 % |
| Downtown Manhattan Office Class A | 6.85 | 0.49 | 7.34 | 9.9 % | -0.27 % |
| Total Manhattan Office Class A | 22.89 | 2.06 | 24.95 | 9.1 % | 0.59 % |
| 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 | 27.06 | 4.01 | 31.07 | 12.86 % | -0.42 % |
| Midtown South Manhattan Office Class A | 1.36 | 0.11 | 1.47 | 8.56 % abc | 44.32 % |
| Downtown Manhattan Office Class A | 11.47 | 1.19 | 12.67 | 14.39 % | 4.07 % |
| Total Manhattan Office Class A | 39.89 | 5.31 | 45.21 | % | 1.27 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 24.81 million RSF to 24.95 million RSF
- Total Manhattan Office Market vacancies increased from 39.0 million RSF to 39.16 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 20.64 | 2.36 | 23.01 | 8.5 % | -0.14 % |
| Midtown South Manhattan Office | 5.9 | 0.6 | 6.5 | 7.3 % | 2.45 % |
| Downtown Manhattan Office | 9.04 | 0.6 | 9.65 | 8.8 % | 0.31 % |
| Total Manhattan Office | 35.59 | 3.57 | 39.16 | 8.3 % | 0.4 % |
| 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 | 35.15 | 5.73 | 40.88 | 12.01 % | -0.14 % |
| Midtown South Manhattan Office | 8.58 | 1.74 | 10.32 | 9.79 % abc | 2.45 % |
| Downtown Manhattan Office | 14.62 | 1.47 | 16.09 | 12.74 % | 3.67 % |
| Total Manhattan Office | 58.35 | 8.94 | 67.29 | % | 0.54 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 35.51 million RSF to 35.59 million RSF.
- Manhattan Office Sublease vacancy increased from 3.49 million RSF to 3.57 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 39.0 million RSF to 39.16 million RSF.
- Total Midtown Office vacancy decreased from 23.04 million RSF to 23.01 million RSF
- Total Midtown South Office vacancy increased from 6.34 million RSF to 6.5 million RSF.
- Total Downtown Office vacancy increased from 9.62 million RSF to 9.65 million RSF.
