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October 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 | 14.48 | 2.41 | 16.89 | 9.3 % | -2.03 % |
| Midtown South Manhattan Office Class A | 0.39 | 0.09 | 0.48 | 3.9 % | -9.79 % |
| Downtown Manhattan Office Class A | 5.36 | 0.47 | 5.83 | 9.8 % | -7.71 % |
| Total Manhattan Office Class A | 20.23 | 2.96 | 23.19 | 9.2 % | -3.61 % |
| 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 | 23.5 | 4.86 | 28.36 | 11.83 % | -2.03 % |
| Midtown South Manhattan Office Class A | 1.57 | 0.55 | 2.12 | 11.78 % abc | -9.79 % |
| Downtown Manhattan Office Class A | 9.98 | 1.78 | 11.76 | 13.22 % | -0.03 % |
| Total Manhattan Office Class A | 35.05 | 7.19 | 42.24 | % | 0.48 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.03 million RSF to 23.19 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.86 million RSF to 37.49 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.86 | 3.28 | 23.14 | 8.8 % | -0.83 % |
| Midtown South Manhattan Office | 5.74 | 1.02 | 6.76 | 7.5 % | 4.38 % |
| Downtown Manhattan Office | 6.97 | 0.62 | 7.59 | 8.4 % | -6.26 % |
| Total Manhattan Office | 32.56 | 4.93 | 37.49 | 8.4 % | -0.99 % |
| 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 | 31.82 | 6.48 | 38.3 | 11.31 % | -0.83 % |
| Midtown South Manhattan Office | 9.33 | 2.62 | 11.95 | 11.09 % abc | 4.38 % |
| Downtown Manhattan Office | 12.55 | 2.02 | 14.57 | 11.49 % | -0.14 % |
| Total Manhattan Office | 53.7 | 11.13 | 64.82 | % | 1.26 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.89 million RSF to 32.56 million RSF.
- Manhattan Office Sublease vacancy decreased from 4.97 million RSF to 4.93 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.86 million RSF to 37.49 million RSF
- Total Midtown Office vacancy decreased from 23.33 million RSF to 23.14 million RSF
- Total Midtown South Office vacancy increased from 6.47 million RSF to 6.76 million RSF.
- Total Downtown Office vacancy decreased from 8.06 million RSF to 7.59 million RSF
