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September 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 | 14.79 | 2.44 | 17.23 | 9.3 % | 2.01 % |
| Midtown South Manhattan Office Class A | 0.45 | 0.08 | 0.53 | 3.7 % | 3.8 % |
| Downtown Manhattan Office Class A | 5.82 | 0.45 | 6.27 | 9.1 % | 0.08 % |
| Total Manhattan Office Class A | 21.06 | 2.97 | 24.03 | 8.9 % | 1.54 % |
| 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 | 23.27 | 4.94 | 28.21 | 11.79 % | 2.01 % |
| Midtown South Manhattan Office Class A | 1.61 | 0.45 | 2.06 | 11.38 % abc | 3.8 % |
| Downtown Manhattan Office Class A | 10.46 | 1.3 | 11.76 | 13.29 % | -2.74 % |
| Total Manhattan Office Class A | 35.35 | 6.69 | 42.04 | % | -6.66 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.66 million RSF to 24.03 million RSF
- Total Manhattan Office Market vacancies increased from 36.8 million RSF to 37.86 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 20.01 | 3.32 | 23.33 | 8.6 % | 3.13 % |
| Midtown South Manhattan Office | 5.43 | 1.04 | 6.47 | 7.3 % | 3.53 % |
| Downtown Manhattan Office | 7.45 | 0.62 | 8.06 | 8.1 % | 1.25 % |
| Total Manhattan Office | 32.89 | 4.97 | 37.86 | 8.3 % | 2.8 % |
| 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 | 31.42 | 6.51 | 37.93 | 11.21 % | 3.13 % |
| Midtown South Manhattan Office | 9.22 | 2.26 | 11.48 | 10.65 % abc | 3.53 % |
| Downtown Manhattan Office | 13.04 | 1.55 | 14.59 | 11.54 % | -2.33 % |
| Total Manhattan Office | 53.68 | 10.32 | 64.0 | % | -4.32 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 32.02 million RSF to 32.89 million RSF.
- Manhattan Office Sublease vacancy increased from 4.79 million RSF to 4.97 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.8 million RSF to 37.86 million RSF.
- Total Midtown Office vacancy increased from 22.6 million RSF to 23.33 million RSF.
- Total Midtown South Office vacancy increased from 6.24 million RSF to 6.47 million RSF.
- Total Downtown Office vacancy increased from 7.96 million RSF to 8.06 million RSF.
