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February 2018

February 2018 » Market Analysis » New York Office Report

February 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 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



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