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December 2016

December 2016 » Market Analysis » New York Office Report

December 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 15.73 1.72 17.45 9.4 % -0.54 %
Midtown South Manhattan Office Class A 0.2 0.02 0.23 2.3 % 1.75 %
Downtown Manhattan Office Class A 6.91 0.56 7.47 10.0 % 1.62 %
Total Manhattan Office Class A 22.84 2.31 25.15 9.2 % 0.12 %
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 27.74 4.56 32.3 13.32 % -0.54 %
Midtown South Manhattan Office Class A 1.02 0.12 1.15 6.97 % abc 1.75 %
Downtown Manhattan Office Class A 11.06 1.26 12.32 14.06 % 1.1 %
Total Manhattan Office Class A 39.82 5.94 45.76 % 0.05 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 25.12 million RSF to 25.15 million RSF
  • Total Manhattan Office Market vacancies decreased from 39.02 million RSF to 38.99 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.76 2.43 23.2 8.6 % -0.88 %
Midtown South Manhattan Office 5.56 0.59 6.15 6.8 % -0.88 %
Downtown Manhattan Office 8.99 0.66 9.65 8.9 % 2.39 %
Total Manhattan Office 35.31 3.68 38.99 8.3 % -0.07 %
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 35.63 6.16 41.79 12.25 % -0.88 %
Midtown South Manhattan Office 8.78 1.86 10.64 10.03 % abc -0.88 %
Downtown Manhattan Office 14.12 1.48 15.6 12.39 % 1.93 %
Total Manhattan Office 58.53 9.5 68.03 % -0.04 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 35.35 million RSF to 35.31 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.67 million RSF to 3.68 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 39.02 million RSF to 38.99 million RSF
  • Total Midtown Office vacancy decreased from 23.4 million RSF to 23.2 million RSF
  • Total Midtown South Office vacancy decreased from 6.2 million RSF to 6.15 million RSF
  • Total Downtown Office vacancy increased from 9.42 million RSF to 9.65 million RSF.



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