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February 2017

February 2017 » Market Analysis » New York Office Report

February 2017 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 15.52 1.56 17.08 9.1 % -0.42 %
Midtown South Manhattan Office Class A 0.53 0.01 0.54 4.6 % 44.32 %
Downtown Manhattan Office Class A 6.85 0.49 7.34 9.9 % -0.27 %
Total Manhattan Office Class A 22.89 2.06 24.95 9.1 % 0.59 %
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 27.06 4.01 31.07 12.86 % -0.42 %
Midtown South Manhattan Office Class A 1.36 0.11 1.47 8.56 % abc 44.32 %
Downtown Manhattan Office Class A 11.47 1.19 12.67 14.39 % 4.07 %
Total Manhattan Office Class A 39.89 5.31 45.21 % 1.27 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 24.81 million RSF to 24.95 million RSF
  • Total Manhattan Office Market vacancies increased from 39.0 million RSF to 39.16 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.64 2.36 23.01 8.5 % -0.14 %
Midtown South Manhattan Office 5.9 0.6 6.5 7.3 % 2.45 %
Downtown Manhattan Office 9.04 0.6 9.65 8.8 % 0.31 %
Total Manhattan Office 35.59 3.57 39.16 8.3 % 0.4 %
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 35.15 5.73 40.88 12.01 % -0.14 %
Midtown South Manhattan Office 8.58 1.74 10.32 9.79 % abc 2.45 %
Downtown Manhattan Office 14.62 1.47 16.09 12.74 % 3.67 %
Total Manhattan Office 58.35 8.94 67.29 % 0.54 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 35.51 million RSF to 35.59 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.49 million RSF to 3.57 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 39.0 million RSF to 39.16 million RSF.
  • Total Midtown Office vacancy decreased from 23.04 million RSF to 23.01 million RSF
  • Total Midtown South Office vacancy increased from 6.34 million RSF to 6.5 million RSF.
  • Total Downtown Office vacancy increased from 9.62 million RSF to 9.65 million RSF.



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