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June 2019

June 2019 » Market Analysis » New York Office Report

June 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 12.99 2.7 15.69 9.6 % 2.86 %
Midtown South Manhattan Office Class A 0.64 0.07 0.71 8.2 % -7.03 %
Downtown Manhattan Office Class A 5.94 0.89 6.83 10.0 % -0.32 %
Total Manhattan Office Class A 19.57 3.66 23.23 8.2 % 1.62 %
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 28.05 5.53 33.58 13.25 % 2.86 %
Midtown South Manhattan Office Class A 2.42 0.38 2.8 13.48 % abc -7.03 %
Downtown Manhattan Office Class A 8.5 2.14 10.64 11.96 % -3.69 %
Total Manhattan Office Class A 38.97 8.06 47.03 % -0.7 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.85 million RSF to 23.23 million RSF
  • Total Manhattan Office Market vacancies decreased from 34.83 million RSF to 32.99 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.73 3.23 19.96 8.0 % -2.17 %
Midtown South Manhattan Office 4.5 0.08 4.58 6.8 % -23.61 %
Downtown Manhattan Office 7.45 1.0 8.45 8.9 % -3.85 %
Total Manhattan Office 28.68 4.31 32.99 8.2 % -5.58 %
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 28.06 7.1 35.16 10.28 % -2.17 %
Midtown South Manhattan Office 2.42 0.38 2.8 2.7 % abc -23.61 %
Downtown Manhattan Office 11.29 2.14 13.43 10.59 % -4.45 %
Total Manhattan Office 41.77 9.63 51.4 % -28.44 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 29.44 million RSF to 28.68 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.39 million RSF to 4.31 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 34.83 million RSF to 32.99 million RSF
  • Total Midtown Office vacancy decreased from 20.39 million RSF to 19.96 million RSF
  • Total Midtown South Office vacancy decreased from 5.66 million RSF to 4.58 million RSF
  • Total Downtown Office vacancy decreased from 8.78 million RSF to 8.45 million RSF



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