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February 2019 » 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 | 13.02 | 2.5 | 15.52 | 8.8 % | -1.97 % |
| Midtown South Manhattan Office Class A | 0.57 | 0.24 | 0.81 | 6.7 % | 1.12 % |
| Downtown Manhattan Office Class A | 6.69 | 0.87 | 7.57 | 10.3 % | -5.95 % |
| Total Manhattan Office Class A | 20.28 | 3.61 | 23.89 | 9.1 % | -3.13 % |
| 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 | 26.89 | 5.38 | 32.27 | 13.0 % | -1.97 % |
| Midtown South Manhattan Office Class A | 2.07 | 0.43 | 2.49 | 11.81 % abc | 1.12 % |
| Downtown Manhattan Office Class A | 9.04 | 2.06 | 11.1 | 12.4 % | -4.73 % |
| Total Manhattan Office Class A | 38.0 | 7.86 | 45.86 | % | 2.04 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.64 million RSF to 23.89 million RSF.
- Total Manhattan Office Market vacancies decreased from 40.12 million RSF to 36.89 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.07 | 3.29 | 21.36 | 8.6 % | -0.77 % |
| Midtown South Manhattan Office | 4.81 | 1.29 | 6.1 | 8.6 % | -32.35 % |
| Downtown Manhattan Office | 8.36 | 1.07 | 9.43 | 8.8 % | -11.57 % |
| Total Manhattan Office | 31.24 | 5.65 | 36.89 | 8.3 % | -8.75 % |
| 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 | 34.05 | 6.98 | 41.04 | 11.87 % | -0.77 % |
| Midtown South Manhattan Office | 10.05 | 2.1 | 12.15 | 10.75 % abc | -32.35 % |
| Downtown Manhattan Office | 11.59 | 2.35 | 13.94 | 10.94 % | -2.25 % |
| Total Manhattan Office | 55.7 | 11.43 | 67.13 | % | -1.13 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 34.65 million RSF to 31.24 million RSF.
- Manhattan Office Sublease vacancy increased from 5.47 million RSF to 5.65 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 40.12 million RSF to 36.89 million RSF
- Total Midtown Office vacancy decreased from 21.53 million RSF to 21.36 million RSF
- Total Midtown South Office vacancy decreased from 8.07 million RSF to 6.1 million RSF
- Total Downtown Office vacancy decreased from 10.52 million RSF to 9.43 million RSF
