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January 2017

January 2017 » Market Analysis » New York Office Report

January 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 15.5 1.65 17.15 9.3 % -1.77 %
Midtown South Manhattan Office Class A 0.28 0.02 0.3 2.4 % 23.75 %
Downtown Manhattan Office Class A 6.94 0.41 7.36 9.7 % -1.5 %
Total Manhattan Office Class A 22.72 2.08 24.81 9.1 % -1.38 %
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 27.14 4.21 31.35 12.96 % -1.77 %
Midtown South Manhattan Office Class A 1.01 0.13 1.13 6.93 % abc 23.75 %
Downtown Manhattan Office Class A 11.06 1.09 12.15 13.89 % -1.33 %
Total Manhattan Office Class A 39.2 5.43 44.63 % -2.52 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.15 million RSF to 24.81 million RSF.
  • Total Manhattan Office Market vacancies increased from 38.99 million RSF to 39.0 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.62 2.42 23.04 8.6 % -0.69 %
Midtown South Manhattan Office 5.8 0.54 6.34 7.0 % 3.04 %
Downtown Manhattan Office 9.09 0.53 9.62 8.7 % -0.3 %
Total Manhattan Office 35.51 3.49 39.0 8.3 % 0.02 %
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 35.18 5.94 41.12 12.07 % -0.69 %
Midtown South Manhattan Office 8.59 1.72 10.31 9.77 % abc 3.04 %
Downtown Manhattan Office 14.15 1.35 15.5 12.32 % -0.62 %
Total Manhattan Office 57.92 9.01 66.93 % -1.63 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 35.31 million RSF to 35.51 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.68 million RSF to 3.49 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 38.99 million RSF to 39.0 million RSF.
  • Total Midtown Office vacancy decreased from 23.2 million RSF to 23.04 million RSF
  • Total Midtown South Office vacancy increased from 6.15 million RSF to 6.34 million RSF.
  • Total Downtown Office vacancy decreased from 9.65 million RSF to 9.62 million RSF



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