market research

April 2016

April 2016 » Market Analysis » New York Office Report

April 2016 NYC Office Space Graphs and Statistics


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 14.47 1.94 16.41 8.6 % 3.33 %
Midtown South Manhattan Office Class A 0.15 0.06 0.2 2.1 % 16.67 %
Downtown Manhattan Office Class A 7.28 0.37 7.66 10.6 % -1.36 %
Total Manhattan Office Class A 21.9 2.37 24.27 8.8 % 1.97 %
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 25.5 3.51 29.0 12.08 % 3.33 %
Midtown South Manhattan Office Class A 0.56 0.1 0.65 4.13 % abc 16.67 %
Downtown Manhattan Office Class A 10.3 1.15 11.46 13.25 % -0.01 %
Total Manhattan Office Class A 36.35 4.75 41.11 % -0.07 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.79 million RSF to 24.27 million RSF
  • Total Manhattan Office Market vacancies increased from 36.05 million RSF to 36.81 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.07 2.54 21.61 8.0 % 3.11 %
Midtown South Manhattan Office 5.0 0.59 5.59 6.8 % 3.9 %
Downtown Manhattan Office 9.05 0.56 9.61 9.0 % -1.29 %
Total Manhattan Office 33.12 3.7 36.81 8.0 % 2.08 %
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 32.39 4.91 37.29 11.06 % 3.11 %
Midtown South Manhattan Office 7.96 1.34 9.3 8.86 % abc 3.9 %
Downtown Manhattan Office 13.22 1.43 14.65 11.75 % 0.42 %
Total Manhattan Office 53.57 7.67 61.24 % 0.42 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 32.66 million RSF to 33.12 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.38 million RSF to 3.7 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.05 million RSF to 36.81 million RSF.
  • Total Midtown Office vacancy increased from 20.94 million RSF to 21.61 million RSF.
  • Total Midtown South Office vacancy increased from 5.37 million RSF to 5.59 million RSF.
  • Total Downtown Office vacancy decreased from 9.73 million RSF to 9.61 million RSF



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building
Real Time Analytics