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July 2018

July 2018 » Market Analysis » New York Office Report

July 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 13.26 2.3 15.55 8.7 % -1.89 %
Midtown South Manhattan Office Class A 0.51 0.1 0.61 5.0 % 11.36 %
Downtown Manhattan Office Class A 6.74 0.89 7.63 11.9 % 20.6 %
Total Manhattan Office Class A 20.5 3.29 23.79 9.3 % 5.66 %
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 23.68 5.15 28.82 11.91 % -1.89 %
Midtown South Manhattan Office Class A 2.29 0.84 3.13 15.6 % abc 11.36 %
Downtown Manhattan Office Class A 10.16 2.19 12.35 13.62 % -1.1 %
Total Manhattan Office Class A 36.12 8.18 44.3 % -0.17 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.45 million RSF to 23.79 million RSF
  • Total Manhattan Office Market vacancies increased from 35.49 million RSF to 36.7 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.26 2.98 21.24 7.9 % -1.98 %
Midtown South Manhattan Office 5.33 0.69 6.02 6.7 % -0.56 %
Downtown Manhattan Office 8.35 1.1 9.45 9.9 % 17.64 %
Total Manhattan Office 31.94 4.76 36.7 8.1 % 3.3 %
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 31.43 6.61 38.04 11.16 % -1.98 %
Midtown South Manhattan Office 9.46 2.35 11.81 10.79 % abc -0.56 %
Downtown Manhattan Office 12.87 2.5 15.36 11.95 % -0.83 %
Total Manhattan Office 53.76 11.45 65.22 % -1.25 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.62 million RSF to 31.94 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.87 million RSF to 4.76 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 35.49 million RSF to 36.7 million RSF.
  • Total Midtown Office vacancy decreased from 21.66 million RSF to 21.24 million RSF
  • Total Midtown South Office vacancy decreased from 6.05 million RSF to 6.02 million RSF
  • Total Downtown Office vacancy increased from 7.78 million RSF to 9.45 million RSF.



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