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March 2019 » 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 | 12.38 | 2.53 | 14.91 | 8.2 % | -4.1 % |
| Midtown South Manhattan Office Class A | 0.53 | 0.25 | 0.78 | 5.5 % | -3.58 % |
| Downtown Manhattan Office Class A | 6.19 | 0.88 | 7.08 | 9.9 % | -6.88 % |
| Total Manhattan Office Class A | 19.11 | 3.66 | 22.77 | 9.9 % | -4.95 % |
| 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 | 26.89 | 5.68 | 32.58 | 13.07 % | -4.1 % |
| Midtown South Manhattan Office Class A | 2.07 | 0.46 | 2.53 | 11.93 % abc | -3.58 % |
| Downtown Manhattan Office Class A | 8.89 | 2.1 | 10.99 | 12.22 % | -1.0 % |
| Total Manhattan Office Class A | 37.85 | 8.24 | 46.1 | % | 0.5 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.89 million RSF to 22.77 million RSF.
- Total Manhattan Office Market vacancies increased from 36.89 million RSF to 37.06 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.56 | 3.4 | 21.96 | 4.6 % | 2.72 % |
| Midtown South Manhattan Office | 4.8 | 0.84 | 5.65 | 6.3 % | -7.93 % |
| Downtown Manhattan Office | 8.45 | 1.01 | 9.45 | 8.0 % | 0.26 % |
| Total Manhattan Office | 31.81 | 5.25 | 37.06 | 7.8 % | 0.47 % |
| 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 | 36.21 | 7.51 | 43.72 | 7.13 % | 2.72 % |
| Midtown South Manhattan Office | 8.21 | 2.08 | 10.29 | 9.27 % abc | -7.93 % |
| Downtown Manhattan Office | 11.37 | 2.37 | 13.74 | 10.81 % | -1.45 % |
| Total Manhattan Office | 55.79 | 11.95 | 67.75 | % | 0.91 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.24 million RSF to 31.81 million RSF.
- Manhattan Office Sublease vacancy decreased from 5.65 million RSF to 5.25 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.89 million RSF to 37.06 million RSF.
- Total Midtown Office vacancy increased from 21.36 million RSF to 21.96 million RSF.
- Total Midtown South Office vacancy decreased from 6.1 million RSF to 5.65 million RSF
- Total Downtown Office vacancy increased from 9.43 million RSF to 9.45 million RSF.
