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July 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 | 15.16 | 1.66 | 16.82 | 9.1 % | -0.74 % |
| Midtown South Manhattan Office Class A | 0.14 | 0.07 | 0.21 | 2.5 % | 17.06 % |
| Downtown Manhattan Office Class A | 7.23 | 0.34 | 7.57 | 9.8 % | 2.1 % |
| Total Manhattan Office Class A | 22.53 | 2.07 | 24.6 | 8.9 % | 0.29 % |
| 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 | 27.76 | 3.43 | 31.19 | 12.91 % | -0.74 % |
| Midtown South Manhattan Office Class A | 0.59 | 0.08 | 0.67 | 4.22 % abc | 17.06 % |
| Downtown Manhattan Office Class A | 10.71 | 1.17 | 11.88 | 13.56 % | -1.24 % |
| Total Manhattan Office Class A | 39.06 | 4.69 | 43.75 | % | -0.53 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 24.53 million RSF to 24.6 million RSF
- Total Manhattan Office Market vacancies stayed at 37.11 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.89 | 2.2 | 22.09 | 8.3 % | -0.51 % |
| Midtown South Manhattan Office | 4.98 | 0.55 | 5.53 | 6.8 % | -0.18 % |
| Downtown Manhattan Office | 8.99 | 0.5 | 9.49 | 8.4 % | 1.24 % |
| Total Manhattan Office | 33.87 | 3.24 | 37.11 | 8.0 % | -0.01 % |
| 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 | 35.13 | 4.82 | 39.94 | 11.76 % | -0.51 % |
| Midtown South Manhattan Office | 7.66 | 1.39 | 9.05 | 8.63 % abc | -0.18 % |
| Downtown Manhattan Office | 13.5 | 1.43 | 14.94 | 11.88 % | -1.41 % |
| Total Manhattan Office | 56.3 | 7.63 | 63.93 | % | -0.44 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 33.6 million RSF to 33.87 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.51 million RSF to 3.24 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.11 million RSF to 37.11 million RSF
- Total Midtown Office vacancy decreased from 22.2 million RSF to 22.09 million RSF
- Total Midtown South Office vacancy decreased from 5.54 million RSF to 5.53 million RSF
- Total Downtown Office vacancy increased from 9.37 million RSF to 9.49 million RSF.
