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August 2016

August 2016 » Market Analysis » New York Office Report
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August 2016 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 14.56 1.74 16.3 9.0 % -3.18 %
Midtown South Manhattan Office Class A 0.14 0.04 0.19 2.4 % -12.23 %
Downtown Manhattan Office Class A 6.82 0.33 7.15 9.6 % -5.91 %
Total Manhattan Office Class A 21.52 2.11 23.63 8.8 % -4.08 %
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 28.05 3.54 31.6 13.01 % -3.18 %
Midtown South Manhattan Office Class A 0.59 0.08 0.67 4.2 % abc -12.23 %
Downtown Manhattan Office Class A 10.72 1.16 11.88 13.5 % -0.01 %
Total Manhattan Office Class A 39.37 4.78 44.15 % 0.91 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.6 million RSF to 23.63 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.11 million RSF to 36.6 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.72 2.24 21.95 8.3 % -0.61 %
Midtown South Manhattan Office 4.92 0.67 5.58 6.9 % 0.97 %
Downtown Manhattan Office 8.59 0.47 9.06 8.3 % -4.78 %
Total Manhattan Office 33.22 3.38 36.6 8.1 % -1.4 %
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 35.52 4.99 40.51 11.9 % -0.61 %
Midtown South Manhattan Office 7.89 1.46 9.35 8.89 % abc 0.97 %
Downtown Manhattan Office 13.46 1.42 14.88 11.79 % -0.38 %
Total Manhattan Office 56.87 7.87 64.74 % 1.25 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 33.87 million RSF to 33.22 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.24 million RSF to 3.38 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.11 million RSF to 36.6 million RSF
  • Total Midtown Office vacancy decreased from 22.09 million RSF to 21.95 million RSF
  • Total Midtown South Office vacancy increased from 5.53 million RSF to 5.58 million RSF.
  • Total Downtown Office vacancy decreased from 9.49 million RSF to 9.06 million RSF



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