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July 2017

July 2017 » Market Analysis » New York Office Report

July 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 15.2 2.27 17.46 9.5 % -4.12 %
Midtown South Manhattan Office Class A 0.44 0.07 0.51 4.6 % -11.57 %
Downtown Manhattan Office Class A 5.93 0.52 6.45 9.9 % -2.15 %
Total Manhattan Office Class A 21.57 2.86 24.42 9.4 % -3.76 %
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 26.67 5.18 31.85 13.14 % -4.12 %
Midtown South Manhattan Office Class A 1.08 0.43 1.51 8.58 % abc -11.57 %
Downtown Manhattan Office Class A 10.78 1.52 12.3 13.84 % -1.4 %
Total Manhattan Office Class A 38.53 7.13 45.66 % -2.61 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.34 million RSF to 24.42 million RSF.
  • Total Manhattan Office Market vacancies decreased from 38.49 million RSF to 37.33 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.99 3.1 23.09 8.7 % -3.87 %
Midtown South Manhattan Office 5.29 0.84 6.13 7.0 % -2.5 %
Downtown Manhattan Office 7.46 0.65 8.11 8.6 % -1.37 %
Total Manhattan Office 32.74 4.59 37.33 8.4 % -3.1 %
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 35.06 6.9 41.96 12.26 % -3.87 %
Midtown South Manhattan Office 8.57 2.41 10.98 10.25 % abc -2.5 %
Downtown Manhattan Office 13.31 1.75 15.06 11.87 % -0.67 %
Total Manhattan Office 56.94 11.06 68.0 % -1.28 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 34.05 million RSF to 32.74 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.44 million RSF to 4.59 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 38.49 million RSF to 37.33 million RSF
  • Total Midtown Office vacancy decreased from 23.99 million RSF to 23.09 million RSF
  • Total Midtown South Office vacancy decreased from 6.28 million RSF to 6.13 million RSF
  • Total Downtown Office vacancy decreased from 8.22 million RSF to 8.11 million RSF



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