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April 2017

April 2017 » Market Analysis » New York Office Report

April 2017 New York 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 15.96 1.97 17.93 9.6 % -0.45 %
Midtown South Manhattan Office Class A 0.59 0.06 0.65 5.0 % 4.16 %
Downtown Manhattan Office Class A 5.96 0.57 6.53 9.8 % 0.63 %
Total Manhattan Office Class A 22.51 2.6 25.11 9.4 % -0.05 %
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 27.27 5.04 32.31 13.36 % -0.45 %
Midtown South Manhattan Office Class A 1.33 0.13 1.46 8.59 % abc 4.16 %
Downtown Manhattan Office Class A 11.0 1.33 12.33 13.93 % 1.05 %
Total Manhattan Office Class A 39.6 6.5 46.1 % 1.98 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.13 million RSF to 25.11 million RSF.
  • Total Manhattan Office Market vacancies decreased from 38.67 million RSF to 38.42 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.84 2.73 23.57 8.8 % 0.76 %
Midtown South Manhattan Office 5.68 0.75 6.43 7.3 % -1.55 %
Downtown Manhattan Office 7.74 0.69 8.42 8.8 % -3.9 %
Total Manhattan Office 34.26 4.16 38.42 8.5 % -0.65 %
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 35.29 6.65 41.94 12.3 % 0.76 %
Midtown South Manhattan Office 8.75 2.08 10.82 10.2 % abc -1.55 %
Downtown Manhattan Office 13.68 1.57 15.25 12.08 % -1.93 %
Total Manhattan Office 57.72 10.29 68.02 % 1.38 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 34.7 million RSF to 34.26 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.98 million RSF to 4.16 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 38.67 million RSF to 38.42 million RSF
  • Total Midtown Office vacancy increased from 23.39 million RSF to 23.57 million RSF.
  • Total Midtown South Office vacancy decreased from 6.53 million RSF to 6.43 million RSF
  • Total Downtown Office vacancy decreased from 8.75 million RSF to 8.42 million RSF



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