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June 2018 » Market Analysis » New York Office Report
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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 | 13.42 | 2.43 | 15.85 | 8.6 % | -1.41 % |
| Midtown South Manhattan Office Class A | 0.46 | 0.07 | 0.54 | 4.2 % | -4.12 % |
| Downtown Manhattan Office Class A | 5.08 | 0.98 | 6.06 | 9.8 % | -2.67 % |
| Total Manhattan Office Class A | 18.96 | 3.49 | 22.45 | 8.7 % | -1.81 % |
| 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 | 23.8 | 5.04 | 28.84 | 11.93 % | -1.41 % |
| Midtown South Manhattan Office Class A | 2.24 | 0.81 | 3.05 | 15.23 % abc | -4.12 % |
| Downtown Manhattan Office Class A | 10.14 | 2.35 | 12.48 | 13.95 % | -0.56 % |
| Total Manhattan Office Class A | 36.18 | 8.2 | 44.37 | % | -0.6 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 22.85 million RSF to 22.45 million RSF.
- Total Manhattan Office Market vacancies decreased from 36.16 million RSF to 35.49 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.56 | 3.1 | 21.66 | 8.1 % | -1.96 % |
| Midtown South Manhattan Office | 5.39 | 0.66 | 6.05 | 6.5 % | -1.39 % |
| Downtown Manhattan Office | 6.68 | 1.11 | 7.78 | 8.4 % | -2.07 % |
| Total Manhattan Office | 30.62 | 4.87 | 35.49 | 7.9 % | -1.88 % |
| 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 | 31.54 | 6.61 | 38.15 | 11.2 % | -1.96 % |
| Midtown South Manhattan Office | 9.7 | 2.7 | 12.39 | 11.24 % abc | -1.39 % |
| Downtown Manhattan Office | 12.85 | 2.65 | 15.49 | 12.15 % | 0.81 % |
| Total Manhattan Office | 54.08 | 11.95 | 66.03 | % | -0.04 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 31.41 million RSF to 30.62 million RSF.
- Manhattan Office Sublease vacancy increased from 4.75 million RSF to 4.87 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.16 million RSF to 35.49 million RSF
- Total Midtown Office vacancy decreased from 22.08 million RSF to 21.66 million RSF
- Total Midtown South Office vacancy decreased from 6.13 million RSF to 6.05 million RSF
- Total Downtown Office vacancy decreased from 7.94 million RSF to 7.78 million RSF
