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January 2018

January 2018 » Market Analysis » New York Office Report

January 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 14.23 2.63 16.86 9.0 % 5.05 %
Midtown South Manhattan Office Class A 0.47 0.07 0.54 4.2 % 3.53 %
Downtown Manhattan Office Class A 5.37 0.65 6.02 11.8 % -2.21 %
Total Manhattan Office Class A 20.07 3.35 23.42 9.5 % 3.15 %
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 22.72 4.92 27.64 11.56 % 5.05 %
Midtown South Manhattan Office Class A 2.02 0.5 2.52 13.15 % abc 3.53 %
Downtown Manhattan Office Class A 10.07 1.61 11.68 12.77 % -2.88 %
Total Manhattan Office Class A 34.81 7.02 41.83 % -1.88 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.68 million RSF to 23.42 million RSF
  • Total Manhattan Office Market vacancies increased from 37.06 million RSF to 37.59 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.51 3.57 23.07 8.5 % 3.45 %
Midtown South Manhattan Office 5.71 1.02 6.73 7.2 % -1.85 %
Downtown Manhattan Office 6.97 0.81 7.79 9.8 % -1.83 %
Total Manhattan Office 32.19 5.4 37.59 8.5 % 1.41 %
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 6.5 37.04 10.95 % 3.45 %
Midtown South Manhattan Office 9.61 2.13 11.74 10.87 % abc -1.85 %
Downtown Manhattan Office 12.6 1.84 14.44 11.2 % -3.09 %
Total Manhattan Office 52.74 10.47 63.21 % -2.37 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.58 million RSF to 32.19 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.48 million RSF to 5.4 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 37.06 million RSF to 37.59 million RSF.
  • Total Midtown Office vacancy increased from 22.28 million RSF to 23.07 million RSF.
  • Total Midtown South Office vacancy decreased from 6.86 million RSF to 6.73 million RSF
  • Total Downtown Office vacancy decreased from 7.93 million RSF to 7.79 million RSF



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