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April 2019 » 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 | 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
