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February 2016 » 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 | 13.79 | 1.8 | 15.59 | 8.5 % | 3.22 % |
| Midtown South Manhattan Office Class A | 0.14 | 0.07 | 0.21 | 1.6 % | 8.49 % |
| Downtown Manhattan Office Class A | 7.52 | 0.29 | 7.8 | 11.1 % | -2.93 % |
| Total Manhattan Office Class A | 21.44 | 2.16 | 23.6 | 8.8 % | 1.23 % |
| 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 | 25.22 | 3.74 | 28.96 | 12.04 % | 3.22 % |
| Midtown South Manhattan Office Class A | 0.33 | 0.1 | 0.43 | 2.79 % abc | 8.49 % |
| Downtown Manhattan Office Class A | 10.37 | 1.44 | 11.8 | 13.62 % | -2.45 % |
| Total Manhattan Office Class A | 35.91 | 5.28 | 41.19 | % | -1.67 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.31 million RSF to 23.6 million RSF
- Total Manhattan Office Market vacancies increased from 34.78 million RSF to 35.66 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.2 | 2.37 | 20.56 | 7.8 % | 3.68 % |
| Midtown South Manhattan Office | 4.9 | 0.42 | 5.32 | 6.3 % | 6.1 % |
| Downtown Manhattan Office | 9.32 | 0.45 | 9.77 | 9.4 % | -2.13 % |
| Total Manhattan Office | 32.42 | 3.24 | 35.66 | 7.8 % | 2.45 % |
| 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 | 32.05 | 5.0 | 37.05 | 10.98 % | 3.68 % |
| Midtown South Manhattan Office | 7.68 | 1.07 | 8.75 | 8.4 % abc | 6.1 % |
| Downtown Manhattan Office | 13.22 | 1.69 | 14.92 | 11.95 % | -2.59 % |
| Total Manhattan Office | 52.95 | 7.77 | 60.72 | % | -0.17 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.55 million RSF to 32.42 million RSF.
- Manhattan Office Sublease vacancy stayed at 3.24 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 34.78 million RSF to 35.66 million RSF.
- Total Midtown Office vacancy increased from 19.81 million RSF to 20.56 million RSF.
- Total Midtown South Office vacancy increased from 5.0 million RSF to 5.32 million RSF.
- Total Downtown Office vacancy decreased from 9.98 million RSF to 9.77 million RSF
