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October 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 | 12.8 | 2.56 | 15.35 | 8.2 % | 1.24 % |
| Midtown South Manhattan Office Class A | 0.5 | 0.12 | 0.62 | 4.1 % | 18.37 % |
| Downtown Manhattan Office Class A | 7.35 | 0.88 | 8.23 | 11.5 % | 3.93 % |
| Total Manhattan Office Class A | 20.65 | 3.56 | 24.2 | 11.5 % | 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 | 25.33 | 5.09 | 30.42 | 12.47 % | 1.24 % |
| Midtown South Manhattan Office Class A | 2.11 | 0.8 | 2.9 | 13.58 % abc | 18.37 % |
| Downtown Manhattan Office Class A | 9.99 | 2.24 | 12.22 | 13.61 % | -0.22 % |
| Total Manhattan Office Class A | 37.42 | 8.12 | 45.54 | % | 5.14 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.58 million RSF to 24.2 million RSF
- Total Manhattan Office Market vacancies increased from 36.46 million RSF to 37.14 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.67 | 3.22 | 20.89 | 7.7 % | 0.42 % |
| Midtown South Manhattan Office | 5.28 | 0.79 | 6.07 | 6.7 % | 4.04 % |
| Downtown Manhattan Office | 9.12 | 1.06 | 10.18 | 9.6 % | 3.43 % |
| Total Manhattan Office | 32.07 | 5.07 | 37.14 | 8.0 % | 1.84 % |
| 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 | 32.82 | 6.58 | 39.4 | 11.51 % | 0.42 % |
| Midtown South Manhattan Office | 9.13 | 2.37 | 11.51 | 10.39 % abc | 4.04 % |
| Downtown Manhattan Office | 12.8 | 2.56 | 15.36 | 12.02 % | -0.01 % |
| Total Manhattan Office | 54.76 | 11.51 | 66.27 | % | 3.79 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.47 million RSF to 32.07 million RSF.
- Manhattan Office Sublease vacancy increased from 4.99 million RSF to 5.07 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.46 million RSF to 37.14 million RSF.
- Total Midtown Office vacancy increased from 20.8 million RSF to 20.89 million RSF.
- Total Midtown South Office vacancy increased from 5.82 million RSF to 6.07 million RSF.
- Total Downtown Office vacancy increased from 9.83 million RSF to 10.18 million RSF.
