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May 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 | 13.57 | 1.72 | 15.29 | 8.6 % | -7.3 % |
| Midtown South Manhattan Office Class A | 0.16 | 0.06 | 0.22 | 2.0 % | 8.52 % |
| Downtown Manhattan Office Class A | 7.22 | 0.37 | 7.59 | 10.5 % | -0.82 % |
| Total Manhattan Office Class A | 20.96 | 2.15 | 23.11 | 8.8 % | -5.02 % |
| 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 | 25.4 | 3.33 | 28.73 | 12.04 % | -7.3 % |
| Midtown South Manhattan Office Class A | 0.55 | 0.07 | 0.63 | 3.95 % abc | 8.52 % |
| Downtown Manhattan Office Class A | 10.21 | 1.19 | 11.4 | 13.19 % | -0.46 % |
| Total Manhattan Office Class A | 36.17 | 4.59 | 40.76 | % | -0.85 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.27 million RSF to 23.11 million RSF.
- Total Manhattan Office Market vacancies decreased from 36.81 million RSF to 35.39 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.1 | 2.31 | 20.41 | 8.0 % | -5.9 % |
| Midtown South Manhattan Office | 4.88 | 0.58 | 5.46 | 6.7 % | -2.34 % |
| Downtown Manhattan Office | 9.0 | 0.52 | 9.52 | 9.0 % | -0.93 % |
| Total Manhattan Office | 31.98 | 3.41 | 35.39 | 8.0 % | -4.02 % |
| 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 | 32.49 | 4.71 | 37.2 | 11.06 % | -5.9 % |
| Midtown South Manhattan Office | 7.87 | 1.36 | 9.23 | 8.79 % abc | -2.34 % |
| Downtown Manhattan Office | 13.08 | 1.44 | 14.52 | 11.65 % | -0.84 % |
| Total Manhattan Office | 53.44 | 7.51 | 60.95 | % | -0.48 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.12 million RSF to 31.98 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.7 million RSF to 3.41 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.81 million RSF to 35.39 million RSF
- Total Midtown Office vacancy decreased from 21.61 million RSF to 20.41 million RSF
- Total Midtown South Office vacancy decreased from 5.59 million RSF to 5.46 million RSF
- Total Downtown Office vacancy decreased from 9.61 million RSF to 9.52 million RSF
