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August 2018

August 2018 » Market Analysis » New York Office Report

August 2018 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 12.88 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.



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