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June 2018

June 2018 » Market Analysis » New York Office Report

June 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 13.42 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



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