market research

March 2018

March 2018 » Market Analysis » New York Office Report

March 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 13.89 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.



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building