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June 2016

June 2016 » Market Analysis » New York Office Report

June 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 15.17 1.77 16.94 9.1 % 9.74 %
Midtown South Manhattan Office Class A 0.12 0.06 0.17 2.0 % -27.43 %
Downtown Manhattan Office Class A 7.03 0.38 7.41 9.8 % -2.52 %
Total Manhattan Office Class A 22.31 2.21 24.53 8.9 % 5.77 %
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 27.87 3.5 31.37 12.98 % 9.74 %
Midtown South Manhattan Office Class A 0.51 0.07 0.58 3.65 % abc -27.43 %
Downtown Manhattan Office Class A 10.71 1.31 12.03 13.68 % 5.17 %
Total Manhattan Office Class A 39.09 4.89 43.98 % 7.32 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.11 million RSF to 24.53 million RSF
  • Total Manhattan Office Market vacancies increased from 35.39 million RSF to 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 19.84 2.36 22.2 8.3 % 8.07 %
Midtown South Manhattan Office 4.94 0.6 5.54 6.8 % 1.43 %
Downtown Manhattan Office 8.82 0.55 9.37 8.5 % -1.58 %
Total Manhattan Office 33.6 3.51 37.11 8.1 % 4.64 %
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 34.98 4.87 39.84 11.75 % 8.07 %
Midtown South Manhattan Office 7.72 1.49 9.22 8.78 % abc 1.43 %
Downtown Manhattan Office 13.59 1.56 15.15 12.02 % 4.12 %
Total Manhattan Office 56.29 7.92 64.21 % 5.07 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.98 million RSF to 33.6 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.41 million RSF to 3.51 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 35.39 million RSF to 37.11 million RSF.
  • Total Midtown Office vacancy increased from 20.41 million RSF to 22.2 million RSF.
  • Total Midtown South Office vacancy increased from 5.46 million RSF to 5.54 million RSF.
  • Total Downtown Office vacancy decreased from 9.52 million RSF to 9.37 million RSF



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