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June 2019 » 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 | 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
