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April 2019

April 2019 » Market Analysis » New York Office Report

April 2019 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 12.41 3.01 15.42 8.0 % 3.33 %
Midtown South Manhattan Office Class A 0.73 0.22 0.95 6.0 % 17.85 %
Downtown Manhattan Office Class A 6.08 0.97 7.05 10.2 % -0.4 %
Total Manhattan Office Class A 19.22 4.2 23.42 10.2 % 2.79 %
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 26.99 5.69 32.68 13.16 % 3.33 %
Midtown South Manhattan Office Class A 2.22 0.64 2.86 13.34 % abc 17.85 %
Downtown Manhattan Office Class A 8.69 2.46 11.15 12.37 % 1.37 %
Total Manhattan Office Class A 37.9 8.78 46.68 % 1.26 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.77 million RSF to 23.42 million RSF
  • Total Manhattan Office Market vacancies decreased from 37.06 million RSF to 35.72 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.26 3.71 20.97 7.9 % -4.72 %
Midtown South Manhattan Office 4.89 0.91 5.8 6.5 % 2.63 %
Downtown Manhattan Office 7.87 1.08 8.95 8.8 % -5.65 %
Total Manhattan Office 30.02 5.7 35.72 7.8 % -3.76 %
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 34.01 7.07 41.08 11.85 % -4.72 %
Midtown South Manhattan Office 8.33 2.41 10.74 9.63 % abc 2.63 %
Downtown Manhattan Office 11.24 2.73 13.97 10.92 % 1.63 %
Total Manhattan Office 53.58 12.21 65.79 % -2.98 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 31.81 million RSF to 30.02 million RSF.
  • Manhattan Office Sublease vacancy increased from 5.25 million RSF to 5.7 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.06 million RSF to 35.72 million RSF
  • Total Midtown Office vacancy decreased from 21.96 million RSF to 20.97 million RSF
  • Total Midtown South Office vacancy increased from 5.65 million RSF to 5.8 million RSF.
  • Total Downtown Office vacancy decreased from 9.45 million RSF to 8.95 million RSF



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