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June 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 | 16.05 | 2.13 | 18.18 | 9.0 % | -2.07 % |
| Midtown South Manhattan Office Class A | 0.51 | 0.06 | 0.57 | 5.0 % | -0.88 % |
| Downtown Manhattan Office Class A | 6.07 | 0.53 | 6.59 | 9.9 % | -0.88 % |
| Total Manhattan Office Class A | 22.63 | 2.71 | 25.34 | 9.0 % | -1.74 % |
| 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 | 27.43 | 5.14 | 32.57 | 13.45 % | -2.07 % |
| Midtown South Manhattan Office Class A | 1.36 | 0.44 | 1.8 | 10.14 % abc | -0.88 % |
| Downtown Manhattan Office Class A | 11.1 | 1.38 | 12.47 | 14.07 % | 0.86 % |
| Total Manhattan Office Class A | 39.89 | 6.96 | 46.85 | % | 0.77 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 25.78 million RSF to 25.34 million RSF.
- Total Manhattan Office Market vacancies decreased from 38.9 million RSF to 38.49 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 21.03 | 2.95 | 23.99 | 8.3 % | -0.76 % |
| Midtown South Manhattan Office | 5.4 | 0.88 | 6.28 | 7.0 % | -2.59 % |
| Downtown Manhattan Office | 7.61 | 0.61 | 8.22 | 8.6 % | -0.84 % |
| Total Manhattan Office | 34.05 | 4.44 | 38.49 | 8.2 % | -1.08 % |
| 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 | 35.32 | 6.86 | 42.18 | 12.37 % | -0.76 % |
| Midtown South Manhattan Office | 8.99 | 2.54 | 11.53 | 10.73 % abc | -2.59 % |
| Downtown Manhattan Office | 13.57 | 1.59 | 15.16 | 11.98 % | 0.4 % |
| Total Manhattan Office | 57.87 | 11.0 | 68.87 | % | 0.57 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 34.5 million RSF to 34.05 million RSF.
- Manhattan Office Sublease vacancy increased from 4.4 million RSF to 4.44 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 38.9 million RSF to 38.49 million RSF
- Total Midtown Office vacancy decreased from 24.17 million RSF to 23.99 million RSF
- Total Midtown South Office vacancy decreased from 6.45 million RSF to 6.28 million RSF
- Total Downtown Office vacancy decreased from 8.29 million RSF to 8.22 million RSF
