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May 2016

May 2016 » Market Analysis » New York Office Report

May 2016 NYC 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 13.57 1.72 15.29 8.6 % -7.3 %
Midtown South Manhattan Office Class A 0.16 0.06 0.22 2.0 % 8.52 %
Downtown Manhattan Office Class A 7.22 0.37 7.59 10.5 % -0.82 %
Total Manhattan Office Class A 20.96 2.15 23.11 8.8 % -5.02 %
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 25.4 3.33 28.73 12.04 % -7.3 %
Midtown South Manhattan Office Class A 0.55 0.07 0.63 3.95 % abc 8.52 %
Downtown Manhattan Office Class A 10.21 1.19 11.4 13.19 % -0.46 %
Total Manhattan Office Class A 36.17 4.59 40.76 % -0.85 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.27 million RSF to 23.11 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.81 million RSF to 35.39 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.1 2.31 20.41 8.0 % -5.9 %
Midtown South Manhattan Office 4.88 0.58 5.46 6.7 % -2.34 %
Downtown Manhattan Office 9.0 0.52 9.52 9.0 % -0.93 %
Total Manhattan Office 31.98 3.41 35.39 8.0 % -4.02 %
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 32.49 4.71 37.2 11.06 % -5.9 %
Midtown South Manhattan Office 7.87 1.36 9.23 8.79 % abc -2.34 %
Downtown Manhattan Office 13.08 1.44 14.52 11.65 % -0.84 %
Total Manhattan Office 53.44 7.51 60.95 % -0.48 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 33.12 million RSF to 31.98 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.7 million RSF to 3.41 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.81 million RSF to 35.39 million RSF
  • Total Midtown Office vacancy decreased from 21.61 million RSF to 20.41 million RSF
  • Total Midtown South Office vacancy decreased from 5.59 million RSF to 5.46 million RSF
  • Total Downtown Office vacancy decreased from 9.61 million RSF to 9.52 million RSF



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