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May 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 | 16.42 | 2.14 | 18.56 | 9.8 % | 3.37 % |
| Midtown South Manhattan Office Class A | 0.51 | 0.06 | 0.57 | 5.1 % | -13.07 % |
| Downtown Manhattan Office Class A | 6.11 | 0.54 | 6.65 | 10.0 % | 1.74 % |
| Total Manhattan Office Class A | 23.04 | 2.75 | 25.78 | 9.6 % | 2.59 % |
| 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 | 27.53 | 5.09 | 32.62 | 13.5 % | 3.37 % |
| Midtown South Manhattan Office Class A | 1.37 | 0.13 | 1.5 | 8.71 % abc | -13.07 % |
| Downtown Manhattan Office Class A | 11.17 | 1.2 | 12.37 | 13.98 % | 0.33 % |
| Total Manhattan Office Class A | 40.07 | 6.42 | 46.49 | % | 0.83 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 25.11 million RSF to 25.78 million RSF
- Total Manhattan Office Market vacancies increased from 38.42 million RSF to 38.9 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 21.28 | 2.89 | 24.17 | 8.9 % | 2.48 % |
| Midtown South Manhattan Office | 5.59 | 0.85 | 6.45 | 7.4 % | 0.22 % |
| Downtown Manhattan Office | 7.63 | 0.66 | 8.29 | 8.7 % | -1.6 % |
| Total Manhattan Office | 34.5 | 4.4 | 38.9 | 8.6 % | 1.23 % |
| 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 | 35.45 | 6.82 | 42.27 | 12.41 % | 2.48 % |
| Midtown South Manhattan Office | 8.87 | 2.24 | 11.11 | 10.43 % abc | 0.22 % |
| Downtown Manhattan Office | 13.64 | 1.46 | 15.1 | 11.95 % | -0.99 % |
| Total Manhattan Office | 57.96 | 10.52 | 68.48 | % | 0.68 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 34.26 million RSF to 34.5 million RSF.
- Manhattan Office Sublease vacancy increased from 4.16 million RSF to 4.4 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 38.42 million RSF to 38.9 million RSF.
- Total Midtown Office vacancy increased from 23.57 million RSF to 24.17 million RSF.
- Total Midtown South Office vacancy increased from 6.43 million RSF to 6.45 million RSF.
- Total Downtown Office vacancy decreased from 8.42 million RSF to 8.29 million RSF
