market research

January 2016

January 2016 » Market Analysis » New York Office Report

January 2016 NYC 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 13.2 1.88 15.08 8.5 % -1.25 %
Midtown South Manhattan Office Class A 0.14 0.06 0.19 1.4 % -11.86 %
Downtown Manhattan Office Class A 7.74 0.29 8.03 11.0 % 4.14 %
Total Manhattan Office Class A 21.08 2.23 23.31 8.8 % 0.52 %
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 25.49 3.92 29.41 12.17 % -1.25 %
Midtown South Manhattan Office Class A 0.28 0.11 0.38 2.49 % abc -11.86 %
Downtown Manhattan Office Class A 10.81 1.28 12.09 13.69 % -1.43 %
Total Manhattan Office Class A 36.57 5.31 41.88 % 0.96 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.19 million RSF to 23.31 million RSF
  • Total Manhattan Office Market vacancies increased from 33.8 million RSF to 34.78 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.4 2.4 19.81 7.7 % 0.49 %
Midtown South Manhattan Office 4.59 0.41 5.0 6.0 % 4.68 %
Downtown Manhattan Office 9.56 0.42 9.98 9.3 % 6.5 %
Total Manhattan Office 31.55 3.24 34.78 7.7 % 2.82 %
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 32.22 5.17 37.39 11.02 % 0.49 %
Midtown South Manhattan Office 7.1 1.03 8.13 7.83 % abc 4.68 %
Downtown Manhattan Office 13.76 1.54 15.3 12.03 % 0.95 %
Total Manhattan Office 53.08 7.74 60.82 % -0.3 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.7 million RSF to 31.55 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.11 million RSF to 3.24 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.8 million RSF to 34.78 million RSF.
  • Total Midtown Office vacancy increased from 19.71 million RSF to 19.81 million RSF.
  • Total Midtown South Office vacancy increased from 4.76 million RSF to 5.0 million RSF.
  • Total Downtown Office vacancy increased from 9.33 million RSF to 9.98 million RSF.



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building