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June 2016 » Market Analysis » New York Office Report
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NYC Real Estate Statistics
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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 | 15.17 | 1.77 | 16.94 | 9.1 % | 9.74 % |
| Midtown South Manhattan Office Class A | 0.12 | 0.06 | 0.17 | 2.0 % | -27.43 % |
| Downtown Manhattan Office Class A | 7.03 | 0.38 | 7.41 | 9.8 % | -2.52 % |
| Total Manhattan Office Class A | 22.31 | 2.21 | 24.53 | 8.9 % | 5.77 % |
| 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 | 27.87 | 3.5 | 31.37 | 12.98 % | 9.74 % |
| Midtown South Manhattan Office Class A | 0.51 | 0.07 | 0.58 | 3.65 % abc | -27.43 % |
| Downtown Manhattan Office Class A | 10.71 | 1.31 | 12.03 | 13.68 % | 5.17 % |
| Total Manhattan Office Class A | 39.09 | 4.89 | 43.98 | % | 7.32 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.11 million RSF to 24.53 million RSF
- Total Manhattan Office Market vacancies increased from 35.39 million RSF to 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 | 19.84 | 2.36 | 22.2 | 8.3 % | 8.07 % |
| Midtown South Manhattan Office | 4.94 | 0.6 | 5.54 | 6.8 % | 1.43 % |
| Downtown Manhattan Office | 8.82 | 0.55 | 9.37 | 8.5 % | -1.58 % |
| Total Manhattan Office | 33.6 | 3.51 | 37.11 | 8.1 % | 4.64 % |
| 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 | 34.98 | 4.87 | 39.84 | 11.75 % | 8.07 % |
| Midtown South Manhattan Office | 7.72 | 1.49 | 9.22 | 8.78 % abc | 1.43 % |
| Downtown Manhattan Office | 13.59 | 1.56 | 15.15 | 12.02 % | 4.12 % |
| Total Manhattan Office | 56.29 | 7.92 | 64.21 | % | 5.07 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.98 million RSF to 33.6 million RSF.
- Manhattan Office Sublease vacancy increased from 3.41 million RSF to 3.51 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 35.39 million RSF to 37.11 million RSF.
- Total Midtown Office vacancy increased from 20.41 million RSF to 22.2 million RSF.
- Total Midtown South Office vacancy increased from 5.46 million RSF to 5.54 million RSF.
- Total Downtown Office vacancy decreased from 9.52 million RSF to 9.37 million RSF
