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March 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 | 13.96 | 1.9 | 15.86 | 8.6 % | 1.75 % |
| Midtown South Manhattan Office Class A | 0.14 | 0.03 | 0.17 | 2.0 % | -24.71 % |
| Downtown Manhattan Office Class A | 7.42 | 0.34 | 7.76 | 10.9 % | -0.57 % |
| Total Manhattan Office Class A | 21.51 | 2.28 | 23.79 | 8.9 % | 0.8 % |
| 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 | 25.37 | 3.69 | 29.06 | 12.09 % | 1.75 % |
| Midtown South Manhattan Office Class A | 0.56 | 0.06 | 0.62 | 3.9 % abc | -24.71 % |
| Downtown Manhattan Office Class A | 10.34 | 1.12 | 11.46 | 13.27 % | -3.01 % |
| Total Manhattan Office Class A | 36.27 | 4.87 | 41.14 | % | -0.13 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.6 million RSF to 23.79 million RSF
- Total Manhattan Office Market vacancies increased from 35.66 million RSF to 36.05 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.47 | 2.47 | 20.94 | 7.9 % | 1.8 % |
| Midtown South Manhattan Office | 4.97 | 0.4 | 5.37 | 6.4 % | 0.89 % |
| Downtown Manhattan Office | 9.22 | 0.51 | 9.73 | 9.2 % | -0.36 % |
| Total Manhattan Office | 32.66 | 3.38 | 36.05 | 7.9 % | 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 | 32.26 | 5.03 | 37.29 | 11.05 % | 1.8 % |
| Midtown South Manhattan Office | 8.08 | 1.03 | 9.11 | 8.7 % abc | 0.89 % |
| Downtown Manhattan Office | 13.24 | 1.34 | 14.58 | 11.71 % | -2.28 % |
| Total Manhattan Office | 53.58 | 7.4 | 60.99 | % | 0.44 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 32.42 million RSF to 32.66 million RSF.
- Manhattan Office Sublease vacancy increased from 3.24 million RSF to 3.38 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 35.66 million RSF to 36.05 million RSF.
- Total Midtown Office vacancy increased from 20.56 million RSF to 20.94 million RSF.
- Total Midtown South Office vacancy increased from 5.32 million RSF to 5.37 million RSF.
- Total Downtown Office vacancy decreased from 9.77 million RSF to 9.73 million RSF
