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February 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 | 13.74 | 2.54 | 16.29 | 8.5 % | -3.51 % |
| Midtown South Manhattan Office Class A | 0.47 | 0.09 | 0.57 | 4.4 % | 4.05 % |
| Downtown Manhattan Office Class A | 5.04 | 0.67 | 5.72 | 9.8 % | -5.28 % |
| Total Manhattan Office Class A | 19.26 | 3.31 | 22.57 | 8.6 % | -3.77 % |
| 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 | 22.93 | 4.91 | 27.83 | 11.61 % | -3.51 % |
| Midtown South Manhattan Office Class A | 2.06 | 0.53 | 2.59 | 13.48 % abc | 4.05 % |
| Downtown Manhattan Office Class A | 9.81 | 1.62 | 11.43 | 12.89 % | -2.17 % |
| Total Manhattan Office Class A | 34.79 | 7.06 | 41.85 | % | 0.04 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.42 million RSF to 22.57 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.59 million RSF to 36.44 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.92 | 3.45 | 22.37 | 8.1 % | -3.14 % |
| Midtown South Manhattan Office | 5.69 | 0.87 | 6.56 | 7.4 % | -2.67 % |
| Downtown Manhattan Office | 6.67 | 0.84 | 7.51 | 8.4 % | -3.69 % |
| Total Manhattan Office | 31.28 | 5.16 | 36.44 | 8.0 % | -3.17 % |
| 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 | 30.54 | 6.47 | 37.01 | 10.92 % | -3.14 % |
| Midtown South Manhattan Office | 9.63 | 1.95 | 11.58 | 10.73 % abc | -2.67 % |
| Downtown Manhattan Office | 12.39 | 1.89 | 14.28 | 11.31 % | -1.12 % |
| Total Manhattan Office | 52.55 | 10.31 | 62.86 | % | -0.56 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.19 million RSF to 31.28 million RSF.
- Manhattan Office Sublease vacancy decreased from 5.4 million RSF to 5.16 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.59 million RSF to 36.44 million RSF
- Total Midtown Office vacancy decreased from 23.07 million RSF to 22.37 million RSF
- Total Midtown South Office vacancy decreased from 6.73 million RSF to 6.56 million RSF
- Total Downtown Office vacancy decreased from 7.79 million RSF to 7.51 million RSF
