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January 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 | 13.18 | 2.64 | 15.83 | 8.5 % | 3.46 % |
| Midtown South Manhattan Office Class A | 0.5 | 0.3 | 0.8 | 6.1 % | -1.04 % |
| Downtown Manhattan Office Class A | 7.2 | 0.81 | 8.02 | 10.7 % | 5.69 % |
| Total Manhattan Office Class A | 20.89 | 3.75 | 24.64 | 10.7 % | 4.04 % |
| 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 | 25.67 | 5.19 | 30.86 | 12.6 % | 3.46 % |
| Midtown South Manhattan Office Class A | 1.93 | 0.51 | 2.44 | 11.63 % abc | -1.04 % |
| Downtown Manhattan Office Class A | 9.46 | 2.17 | 11.63 | 13.0 % | 0.2 % |
| Total Manhattan Office Class A | 37.07 | 7.86 | 44.93 | % | -1.2 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 23.64 million RSF to 24.64 million RSF
- Total Manhattan Office Market vacancies increased from 36.24 million RSF to 40.12 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.15 | 3.38 | 21.53 | 8.3 % | 2.71 % |
| Midtown South Manhattan Office | 7.0 | 1.06 | 8.07 | 2.3 % | 27.0 % |
| Downtown Manhattan Office | 9.49 | 1.03 | 10.52 | 5.4 % | 10.56 % |
| Total Manhattan Office | 34.65 | 5.47 | 40.12 | 8.0 % | 9.66 % |
| 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 | 33.08 | 6.58 | 39.66 | 11.58 % | 2.71 % |
| Midtown South Manhattan Office | 11.88 | 2.09 | 13.97 | 12.42 % abc | 27.0 % |
| Downtown Manhattan Office | 11.75 | 2.5 | 14.25 | 11.28 % | -0.37 % |
| Total Manhattan Office | 56.71 | 11.17 | 67.88 | % | 2.9 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.29 million RSF to 34.65 million RSF.
- Manhattan Office Sublease vacancy increased from 4.95 million RSF to 5.47 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.24 million RSF to 40.12 million RSF.
- Total Midtown Office vacancy increased from 20.94 million RSF to 21.53 million RSF.
- Total Midtown South Office vacancy increased from 5.89 million RSF to 8.07 million RSF.
- Total Downtown Office vacancy increased from 9.41 million RSF to 10.52 million RSF.
