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December 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 | 12.98 | 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
