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March 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 | 16.2 | 1.81 | 18.01 | 9.7 % | 5.17 % |
| Midtown South Manhattan Office Class A | 0.56 | 0.06 | 0.62 | 4.8 % | 13.67 % |
| Downtown Manhattan Office Class A | 5.97 | 0.52 | 6.49 | 9.6 % | -13.03 % |
| Total Manhattan Office Class A | 22.73 | 2.4 | 25.12 | 9.5 % | 0.68 % |
| 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 | 27.14 | 4.47 | 31.6 | 13.11 % | 5.17 % |
| Midtown South Manhattan Office Class A | 1.26 | 0.13 | 1.39 | 8.18 % abc | 13.67 % |
| Downtown Manhattan Office Class A | 10.96 | 1.23 | 12.2 | 13.8 % | -3.88 % |
| Total Manhattan Office Class A | 39.36 | 5.83 | 45.19 | % | -0.05 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 24.95 million RSF to 25.12 million RSF
- Total Manhattan Office Market vacancies decreased from 39.16 million RSF to 38.67 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 20.84 | 2.55 | 23.39 | 8.8 % | 1.65 % |
| Midtown South Manhattan Office | 5.75 | 0.79 | 6.53 | 7.4 % | 0.47 % |
| Downtown Manhattan Office | 8.11 | 0.64 | 8.75 | 8.7 % | -10.29 % |
| Total Manhattan Office | 34.7 | 3.98 | 38.67 | 8.5 % | -1.25 % |
| 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 | 34.92 | 6.04 | 40.96 | 12.04 % | 1.65 % |
| Midtown South Manhattan Office | 8.64 | 1.92 | 10.56 | 10.0 % abc | 0.47 % |
| Downtown Manhattan Office | 14.06 | 1.49 | 15.55 | 12.31 % | -3.53 % |
| Total Manhattan Office | 57.62 | 9.45 | 67.07 | % | -0.33 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 35.59 million RSF to 34.7 million RSF.
- Manhattan Office Sublease vacancy increased from 3.57 million RSF to 3.98 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 39.16 million RSF to 38.67 million RSF
- Total Midtown Office vacancy increased from 23.01 million RSF to 23.39 million RSF.
- Total Midtown South Office vacancy increased from 6.5 million RSF to 6.53 million RSF.
- Total Downtown Office vacancy decreased from 9.65 million RSF to 8.75 million RSF
