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July 2016

July 2016 » Market Analysis » New York Office Report

July 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 15.16 1.66 16.82 9.1 % -0.74 %
Midtown South Manhattan Office Class A 0.14 0.07 0.21 2.5 % 17.06 %
Downtown Manhattan Office Class A 7.23 0.34 7.57 9.8 % 2.1 %
Total Manhattan Office Class A 22.53 2.07 24.6 8.9 % 0.29 %
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 27.76 3.43 31.19 12.91 % -0.74 %
Midtown South Manhattan Office Class A 0.59 0.08 0.67 4.22 % abc 17.06 %
Downtown Manhattan Office Class A 10.71 1.17 11.88 13.56 % -1.24 %
Total Manhattan Office Class A 39.06 4.69 43.75 % -0.53 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 24.53 million RSF to 24.6 million RSF
  • Total Manhattan Office Market vacancies stayed at 37.11 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.89 2.2 22.09 8.3 % -0.51 %
Midtown South Manhattan Office 4.98 0.55 5.53 6.8 % -0.18 %
Downtown Manhattan Office 8.99 0.5 9.49 8.4 % 1.24 %
Total Manhattan Office 33.87 3.24 37.11 8.0 % -0.01 %
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 35.13 4.82 39.94 11.76 % -0.51 %
Midtown South Manhattan Office 7.66 1.39 9.05 8.63 % abc -0.18 %
Downtown Manhattan Office 13.5 1.43 14.94 11.88 % -1.41 %
Total Manhattan Office 56.3 7.63 63.93 % -0.44 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 33.6 million RSF to 33.87 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.51 million RSF to 3.24 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.11 million RSF to 37.11 million RSF
  • Total Midtown Office vacancy decreased from 22.2 million RSF to 22.09 million RSF
  • Total Midtown South Office vacancy decreased from 5.54 million RSF to 5.53 million RSF
  • Total Downtown Office vacancy increased from 9.37 million RSF to 9.49 million RSF.



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