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August 2018 » 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 | 12.88 | 2.46 | 15.34 | 8.5 % | -1.4 % |
| Midtown South Manhattan Office Class A | 0.32 | 0.13 | 0.45 | 3.4 % | -35.03 % |
| Downtown Manhattan Office Class A | 6.88 | 0.87 | 7.76 | 11.1 % | 1.63 % |
| Total Manhattan Office Class A | 20.08 | 3.47 | 23.55 | 8.9 % | -1.04 % |
| 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 | 23.57 | 5.18 | 28.74 | 11.88 % | -1.4 % |
| Midtown South Manhattan Office Class A | 2.18 | 0.84 | 3.02 | 14.23 % abc | -35.03 % |
| Downtown Manhattan Office Class A | 10.15 | 2.21 | 12.36 | 13.67 % | 0.09 % |
| Total Manhattan Office Class A | 35.9 | 8.23 | 44.12 | % | -0.4 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.79 million RSF to 23.55 million RSF.
- Total Manhattan Office Market vacancies decreased from 36.7 million RSF to 36.38 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.78 | 3.11 | 20.89 | 7.9 % | -1.67 % |
| Midtown South Manhattan Office | 5.13 | 0.78 | 5.92 | 6.4 % | -1.69 % |
| Downtown Manhattan Office | 8.54 | 1.03 | 9.58 | 9.4 % | 1.33 % |
| Total Manhattan Office | 31.45 | 4.93 | 36.38 | 8.1 % | -0.89 % |
| 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 | 31.68 | 6.68 | 38.36 | 11.25 % | -1.67 % |
| Midtown South Manhattan Office | 9.21 | 2.5 | 11.71 | 10.61 % abc | -1.69 % |
| Downtown Manhattan Office | 12.95 | 2.51 | 15.47 | 12.04 % | 0.67 % |
| Total Manhattan Office | 53.84 | 11.7 | 65.54 | % | 0.5 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 31.94 million RSF to 31.45 million RSF.
- Manhattan Office Sublease vacancy increased from 4.76 million RSF to 4.93 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.7 million RSF to 36.38 million RSF
- Total Midtown Office vacancy decreased from 21.24 million RSF to 20.89 million RSF
- Total Midtown South Office vacancy decreased from 6.02 million RSF to 5.92 million RSF
- Total Downtown Office vacancy increased from 9.45 million RSF to 9.58 million RSF.
