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November 2018 » 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 | 12.61 | 2.36 | 14.97 | 8.3 % | -2.56 % |
| Midtown South Manhattan Office Class A | 0.5 | 0.28 | 0.78 | 5.3 % | 20.17 % |
| Downtown Manhattan Office Class A | 7.12 | 0.84 | 7.95 | 11.5 % | -3.48 % |
| Total Manhattan Office Class A | 20.23 | 3.47 | 23.7 | 11.5 % | -2.13 % |
| 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 | 26.1 | 4.92 | 31.01 | 12.72 % | -2.56 % |
| Midtown South Manhattan Office Class A | 2.08 | 0.81 | 2.89 | 13.48 % abc | 20.17 % |
| Downtown Manhattan Office Class A | 9.86 | 2.11 | 11.97 | 13.32 % | -2.12 % |
| Total Manhattan Office Class A | 38.03 | 7.84 | 45.87 | % | 0.72 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.2 million RSF to 23.7 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.14 million RSF to 36.32 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.59 | 3.06 | 20.65 | 7.9 % | -1.15 % |
| Midtown South Manhattan Office | 4.83 | 1.07 | 5.9 | 6.3 % | -2.85 % |
| Downtown Manhattan Office | 8.76 | 1.01 | 9.77 | 9.6 % | -4.22 % |
| Total Manhattan Office | 31.18 | 5.14 | 36.32 | 8.0 % | -2.25 % |
| 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 | 33.97 | 6.4 | 40.37 | 11.75 % | -1.15 % |
| Midtown South Manhattan Office | 9.18 | 2.48 | 11.66 | 10.43 % abc | -2.85 % |
| Downtown Manhattan Office | 12.55 | 2.4 | 14.95 | 11.7 % | -2.75 % |
| Total Manhattan Office | 55.7 | 11.27 | 66.97 | % | 1.05 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.07 million RSF to 31.18 million RSF.
- Manhattan Office Sublease vacancy increased from 5.07 million RSF to 5.14 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.14 million RSF to 36.32 million RSF
- Total Midtown Office vacancy decreased from 20.89 million RSF to 20.65 million RSF
- Total Midtown South Office vacancy decreased from 6.07 million RSF to 5.9 million RSF
- Total Downtown Office vacancy decreased from 10.18 million RSF to 9.77 million RSF
