market research

July 2019

July 2019 » Market Analysis » New York Office Report

July 2019 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 12.4 2.61 15.0 8.4 % -4.57 %
Midtown South Manhattan Office Class A 0.94 0.07 1.01 9.6 % 29.17 %
Downtown Manhattan Office Class A 5.69 0.67 6.36 9.6 % -7.35 %
Total Manhattan Office Class A 19.03 3.34 22.37 8.7 % -3.84 %
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 26.89 5.48 32.37 12.77 % -4.57 %
Midtown South Manhattan Office Class A 2.25 0.4 2.65 12.3 % abc 29.17 %
Downtown Manhattan Office Class A 8.51 2.14 10.65 11.99 % 0.06 %
Total Manhattan Office Class A 37.65 8.02 45.67 % -2.97 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.23 million RSF to 22.37 million RSF.
  • Total Manhattan Office Market vacancies decreased from 32.99 million RSF to 32.98 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.56 3.15 19.7 7.9 % -1.29 %
Midtown South Manhattan Office 4.29 0.76 5.05 7.2 % 9.32 %
Downtown Manhattan Office 7.38 0.85 8.23 8.6 % -2.68 %
Total Manhattan Office 28.23 4.76 32.98 8.6 % -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 33.47 7.26 40.73 11.64 % -1.29 %
Midtown South Manhattan Office 4.29 0.76 5.05 4.77 % abc 9.32 %
Downtown Manhattan Office 11.13 2.48 13.61 10.7 % 1.33 %
Total Manhattan Office 48.89 10.5 59.4 % 13.46 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 28.68 million RSF to 28.23 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.31 million RSF to 4.76 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 32.99 million RSF to 32.98 million RSF
  • Total Midtown Office vacancy decreased from 19.96 million RSF to 19.7 million RSF
  • Total Midtown South Office vacancy increased from 4.58 million RSF to 5.05 million RSF.
  • Total Downtown Office vacancy decreased from 8.45 million RSF to 8.23 million RSF



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building