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March 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 | 13.89 | 2.64 | 16.53 | 9.0 % | 1.49 % |
| Midtown South Manhattan Office Class A | 0.5 | 0.1 | 0.6 | 5.2 % | 5.36 % |
| Downtown Manhattan Office Class A | 5.13 | 0.84 | 5.97 | 9.6 % | 4.21 % |
| Total Manhattan Office Class A | 19.52 | 3.58 | 23.1 | 8.9 % | 2.3 % |
| 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 | 22.99 | 5.07 | 28.06 | 11.7 % | 1.49 % |
| Midtown South Manhattan Office Class A | 1.93 | 0.71 | 2.64 | 13.61 % abc | 5.36 % |
| Downtown Manhattan Office Class A | 9.97 | 1.79 | 11.76 | 13.25 % | 2.82 % |
| Total Manhattan Office Class A | 34.89 | 7.57 | 42.46 | % | 1.43 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.57 million RSF to 23.1 million RSF
- Total Manhattan Office Market vacancies increased from 36.44 million RSF to 36.66 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.96 | 3.4 | 22.36 | 8.4 % | -0.04 % |
| Midtown South Manhattan Office | 5.61 | 0.91 | 6.52 | 7.3 % | -0.6 % |
| Downtown Manhattan Office | 6.81 | 0.97 | 7.78 | 8.3 % | 3.47 % |
| Total Manhattan Office | 31.38 | 5.28 | 36.66 | 8.2 % | 0.6 % |
| 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 | 30.38 | 6.5 | 36.88 | 10.91 % | -0.04 % |
| Midtown South Manhattan Office | 9.29 | 2.38 | 11.67 | 10.75 % abc | -0.6 % |
| Downtown Manhattan Office | 12.53 | 2.06 | 14.59 | 11.54 % | 2.13 % |
| Total Manhattan Office | 52.2 | 10.93 | 63.13 | % | 0.43 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.28 million RSF to 31.38 million RSF.
- Manhattan Office Sublease vacancy increased from 5.16 million RSF to 5.28 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.44 million RSF to 36.66 million RSF.
- Total Midtown Office vacancy decreased from 22.37 million RSF to 22.36 million RSF
- Total Midtown South Office vacancy decreased from 6.56 million RSF to 6.52 million RSF
- Total Downtown Office vacancy increased from 7.51 million RSF to 7.78 million RSF.
