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August 2017

August 2017 » Market Analysis » New York Office Report

August 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 14.46 2.42 16.88 9.2 % -3.42 %
Midtown South Manhattan Office Class A 0.43 0.08 0.51 4.6 % -0.59 %
Downtown Manhattan Office Class A 5.8 0.47 6.27 9.7 % -2.9 %
Total Manhattan Office Class A 20.69 2.97 23.66 9.1 % -3.22 %
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 25.7 5.1 30.79 12.72 % -3.42 %
Midtown South Manhattan Office Class A 1.51 0.45 1.96 10.88 % abc -0.59 %
Downtown Manhattan Office Class A 10.73 1.35 12.08 13.6 % -1.8 %
Total Manhattan Office Class A 37.94 6.9 44.84 % -1.83 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.42 million RSF to 23.66 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.33 million RSF to 36.8 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.26 3.34 22.6 8.5 % -2.19 %
Midtown South Manhattan Office 5.41 0.83 6.24 7.1 % 1.76 %
Downtown Manhattan Office 7.35 0.62 7.96 8.5 % -1.8 %
Total Manhattan Office 32.02 4.79 36.8 8.2 % -1.43 %
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 33.71 6.71 40.42 11.84 % -2.19 %
Midtown South Manhattan Office 9.03 2.39 11.42 10.63 % abc 1.76 %
Downtown Manhattan Office 13.32 1.61 14.93 11.77 % -0.86 %
Total Manhattan Office 56.06 10.71 66.77 % -1.84 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.74 million RSF to 32.02 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.59 million RSF to 4.79 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.33 million RSF to 36.8 million RSF
  • Total Midtown Office vacancy decreased from 23.09 million RSF to 22.6 million RSF
  • Total Midtown South Office vacancy increased from 6.13 million RSF to 6.24 million RSF.
  • Total Downtown Office vacancy decreased from 8.11 million RSF to 7.96 million RSF



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