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December 2018

December 2018 » Market Analysis » New York Office Report

December 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 12.98 2.3 15.28 8.3 % 2.03 %
Midtown South Manhattan Office Class A 0.53 0.28 0.8 5.3 % 3.44 %
Downtown Manhattan Office Class A 6.79 0.77 7.56 10.9 % -5.22 %
Total Manhattan Office Class A 20.3 3.34 23.64 10.9 % -0.24 %
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 26.26 5.04 31.3 12.73 % 2.03 %
Midtown South Manhattan Office Class A 2.07 0.49 2.56 12.15 % abc 3.44 %
Downtown Manhattan Office Class A 9.57 2.04 11.61 12.91 % -3.14 %
Total Manhattan Office Class A 37.89 7.58 45.47 % -0.88 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.7 million RSF to 23.64 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.32 million RSF to 36.24 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.93 3.01 20.94 8.1 % 1.38 %
Midtown South Manhattan Office 4.9 0.99 5.89 6.3 % -0.15 %
Downtown Manhattan Office 8.46 0.95 9.41 9.2 % -3.8 %
Total Manhattan Office 31.29 4.95 36.24 8.0 % -0.21 %
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 34.03 6.47 40.5 11.77 % 1.38 %
Midtown South Manhattan Office 9.01 2.1 11.1 9.98 % abc -0.15 %
Downtown Manhattan Office 11.96 2.34 14.31 11.22 % -4.5 %
Total Manhattan Office 55.0 10.91 65.91 % -1.61 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.18 million RSF to 31.29 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.14 million RSF to 4.95 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.32 million RSF to 36.24 million RSF
  • Total Midtown Office vacancy increased from 20.65 million RSF to 20.94 million RSF.
  • Total Midtown South Office vacancy decreased from 5.9 million RSF to 5.89 million RSF
  • Total Downtown Office vacancy decreased from 9.77 million RSF to 9.41 million RSF



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