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June 2017

June 2017 » Market Analysis » New York Office Report

June 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 16.05 2.13 18.18 9.0 % -2.07 %
Midtown South Manhattan Office Class A 0.51 0.06 0.57 5.0 % -0.88 %
Downtown Manhattan Office Class A 6.07 0.53 6.59 9.9 % -0.88 %
Total Manhattan Office Class A 22.63 2.71 25.34 9.0 % -1.74 %
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 27.43 5.14 32.57 13.45 % -2.07 %
Midtown South Manhattan Office Class A 1.36 0.44 1.8 10.14 % abc -0.88 %
Downtown Manhattan Office Class A 11.1 1.38 12.47 14.07 % 0.86 %
Total Manhattan Office Class A 39.89 6.96 46.85 % 0.77 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.78 million RSF to 25.34 million RSF.
  • Total Manhattan Office Market vacancies decreased from 38.9 million RSF to 38.49 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 21.03 2.95 23.99 8.3 % -0.76 %
Midtown South Manhattan Office 5.4 0.88 6.28 7.0 % -2.59 %
Downtown Manhattan Office 7.61 0.61 8.22 8.6 % -0.84 %
Total Manhattan Office 34.05 4.44 38.49 8.2 % -1.08 %
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 35.32 6.86 42.18 12.37 % -0.76 %
Midtown South Manhattan Office 8.99 2.54 11.53 10.73 % abc -2.59 %
Downtown Manhattan Office 13.57 1.59 15.16 11.98 % 0.4 %
Total Manhattan Office 57.87 11.0 68.87 % 0.57 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 34.5 million RSF to 34.05 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.4 million RSF to 4.44 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 38.9 million RSF to 38.49 million RSF
  • Total Midtown Office vacancy decreased from 24.17 million RSF to 23.99 million RSF
  • Total Midtown South Office vacancy decreased from 6.45 million RSF to 6.28 million RSF
  • Total Downtown Office vacancy decreased from 8.29 million RSF to 8.22 million RSF



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