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December 2017 » 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 | 13.46 | 2.55 | 16.01 | 8.8 % | -7.81 % |
| Midtown South Manhattan Office Class A | 0.46 | 0.06 | 0.52 | 4.4 % | 14.12 % |
| Downtown Manhattan Office Class A | 5.44 | 0.71 | 6.15 | 10.2 % | 0.39 % |
| Total Manhattan Office Class A | 19.36 | 3.32 | 22.68 | 8.9 % | -5.08 % |
| 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 | 23.29 | 4.94 | 28.23 | 11.73 % | -7.81 % |
| Midtown South Manhattan Office Class A | 1.87 | 0.51 | 2.38 | 12.7 % abc | 14.12 % |
| Downtown Manhattan Office Class A | 10.11 | 1.9 | 12.01 | 13.54 % | 0.94 % |
| Total Manhattan Office Class A | 35.27 | 7.35 | 42.62 | % | -0.64 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.84 million RSF to 22.68 million RSF.
- Total Manhattan Office Market vacancies decreased from 38.36 million RSF to 37.06 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.76 | 3.52 | 22.28 | 8.4 % | -6.02 % |
| Midtown South Manhattan Office | 5.77 | 1.09 | 6.86 | 7.5 % | 0.98 % |
| Downtown Manhattan Office | 7.06 | 0.87 | 7.93 | 8.6 % | -0.23 % |
| Total Manhattan Office | 31.58 | 5.48 | 37.06 | 8.2 % | -3.49 % |
| 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 | 31.46 | 6.71 | 38.17 | 11.22 % | -6.02 % |
| Midtown South Manhattan Office | 9.27 | 2.39 | 11.66 | 10.88 % abc | 0.98 % |
| Downtown Manhattan Office | 12.74 | 2.15 | 14.88 | 11.78 % | 0.83 % |
| Total Manhattan Office | 53.47 | 11.25 | 64.71 | % | -1.22 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.1 million RSF to 31.58 million RSF.
- Manhattan Office Sublease vacancy increased from 5.25 million RSF to 5.48 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 38.36 million RSF to 37.06 million RSF
- Total Midtown Office vacancy decreased from 23.62 million RSF to 22.28 million RSF
- Total Midtown South Office vacancy increased from 6.79 million RSF to 6.86 million RSF.
- Total Downtown Office vacancy decreased from 7.95 million RSF to 7.93 million RSF
