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October 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 | 15.75 | 1.69 | 17.44 | 9.7 % | 1.3 % |
| Midtown South Manhattan Office Class A | 0.2 | 0.04 | 0.25 | 3.0 % | 24.9 % |
| Downtown Manhattan Office Class A | 6.8 | 0.54 | 7.35 | 10.0 % | 0.56 % |
| Total Manhattan Office Class A | 22.76 | 2.28 | 25.03 | 9.5 % | 1.32 % |
| 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 | 28.1 | 4.06 | 32.16 | 13.26 % | 1.3 % |
| Midtown South Manhattan Office Class A | 0.9 | 0.11 | 1.01 | 6.16 % abc | 24.9 % |
| Downtown Manhattan Office Class A | 10.92 | 1.17 | 12.09 | 13.74 % | 1.37 % |
| Total Manhattan Office Class A | 39.92 | 5.34 | 45.26 | % | 1.59 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 24.7 million RSF to 25.03 million RSF
- Total Manhattan Office Market vacancies increased from 38.02 million RSF to 38.66 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 20.8 | 2.37 | 23.18 | 8.8 % | 1.2 % |
| Midtown South Manhattan Office | 5.45 | 0.65 | 6.1 | 6.9 % | 4.23 % |
| Downtown Manhattan Office | 8.74 | 0.65 | 9.38 | 8.8 % | 1.17 % |
| Total Manhattan Office | 34.99 | 3.67 | 38.66 | 8.5 % | 1.67 % |
| 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 | 35.92 | 5.6 | 41.52 | 12.19 % | 1.2 % |
| Midtown South Manhattan Office | 8.31 | 1.6 | 9.91 | 9.41 % abc | 4.23 % |
| Downtown Manhattan Office | 13.81 | 1.38 | 15.19 | 12.03 % | 1.7 % |
| Total Manhattan Office | 58.03 | 8.58 | 66.61 | % | 2.66 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 34.65 million RSF to 34.99 million RSF.
- Manhattan Office Sublease vacancy increased from 3.37 million RSF to 3.67 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 38.02 million RSF to 38.66 million RSF.
- Total Midtown Office vacancy increased from 22.9 million RSF to 23.18 million RSF.
- Total Midtown South Office vacancy increased from 5.84 million RSF to 6.1 million RSF.
- Total Downtown Office vacancy increased from 9.28 million RSF to 9.38 million RSF.
