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January 2018 » 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 | 14.23 | 2.63 | 16.86 | 9.0 % | 5.05 % |
| Midtown South Manhattan Office Class A | 0.47 | 0.07 | 0.54 | 4.2 % | 3.53 % |
| Downtown Manhattan Office Class A | 5.37 | 0.65 | 6.02 | 11.8 % | -2.21 % |
| Total Manhattan Office Class A | 20.07 | 3.35 | 23.42 | 9.5 % | 3.15 % |
| 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 | 22.72 | 4.92 | 27.64 | 11.56 % | 5.05 % |
| Midtown South Manhattan Office Class A | 2.02 | 0.5 | 2.52 | 13.15 % abc | 3.53 % |
| Downtown Manhattan Office Class A | 10.07 | 1.61 | 11.68 | 12.77 % | -2.88 % |
| Total Manhattan Office Class A | 34.81 | 7.02 | 41.83 | % | -1.88 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.68 million RSF to 23.42 million RSF
- Total Manhattan Office Market vacancies increased from 37.06 million RSF to 37.59 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.51 | 3.57 | 23.07 | 8.5 % | 3.45 % |
| Midtown South Manhattan Office | 5.71 | 1.02 | 6.73 | 7.2 % | -1.85 % |
| Downtown Manhattan Office | 6.97 | 0.81 | 7.79 | 9.8 % | -1.83 % |
| Total Manhattan Office | 32.19 | 5.4 | 37.59 | 8.5 % | 1.41 % |
| 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 | 30.54 | 6.5 | 37.04 | 10.95 % | 3.45 % |
| Midtown South Manhattan Office | 9.61 | 2.13 | 11.74 | 10.87 % abc | -1.85 % |
| Downtown Manhattan Office | 12.6 | 1.84 | 14.44 | 11.2 % | -3.09 % |
| Total Manhattan Office | 52.74 | 10.47 | 63.21 | % | -2.37 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.58 million RSF to 32.19 million RSF.
- Manhattan Office Sublease vacancy decreased from 5.48 million RSF to 5.4 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 37.06 million RSF to 37.59 million RSF.
- Total Midtown Office vacancy increased from 22.28 million RSF to 23.07 million RSF.
- Total Midtown South Office vacancy decreased from 6.86 million RSF to 6.73 million RSF
- Total Downtown Office vacancy decreased from 7.93 million RSF to 7.79 million RSF
