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April 2018

April 2018 » Market Analysis » New York Office Report
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April 2018 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 13.79 2.51 16.3 8.8 % -1.42 %
Midtown South Manhattan Office Class A 0.48 0.11 0.59 6.7 % -1.34 %
Downtown Manhattan Office Class A 5.18 0.73 5.91 9.4 % -0.97 %
Total Manhattan Office Class A 19.46 3.34 22.8 8.9 % -1.3 %
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 24.62 5.21 29.82 12.32 % -1.42 %
Midtown South Manhattan Office Class A 1.86 0.69 2.55 12.95 % abc -1.34 %
Downtown Manhattan Office Class A 10.17 1.71 11.88 13.36 % 0.98 %
Total Manhattan Office Class A 36.65 7.61 44.26 % 4.06 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.1 million RSF to 22.8 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.66 million RSF to 36.41 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.89 3.3 22.19 8.3 % -0.78 %
Midtown South Manhattan Office 5.67 0.84 6.52 7.4 % -0.01 %
Downtown Manhattan Office 6.84 0.87 7.71 7.9 % -0.92 %
Total Manhattan Office 31.4 5.01 36.41 8.0 % -0.67 %
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 32.0 6.76 38.76 11.39 % -0.78 %
Midtown South Manhattan Office 9.35 2.38 11.73 10.75 % abc -0.01 %
Downtown Manhattan Office 12.79 1.98 14.77 11.67 % 1.23 %
Total Manhattan Office 54.15 11.12 65.26 % 3.26 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.38 million RSF to 31.4 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.28 million RSF to 5.01 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.66 million RSF to 36.41 million RSF
  • Total Midtown Office vacancy decreased from 22.36 million RSF to 22.19 million RSF
  • Total Midtown South Office vacancy decreased from 6.52 million RSF to 6.52 million RSF
  • Total Downtown Office vacancy decreased from 7.78 million RSF to 7.71 million RSF



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