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May 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 | 13.77 | 2.3 | 16.07 | 8.8 % | -1.44 % |
| Midtown South Manhattan Office Class A | 0.46 | 0.1 | 0.56 | 4.8 % | -5.42 % |
| Downtown Manhattan Office Class A | 5.35 | 0.88 | 6.22 | 9.7 % | 5.02 % |
| Total Manhattan Office Class A | 19.57 | 3.28 | 22.85 | 8.8 % | 0.22 % |
| 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 | 24.37 | 4.68 | 29.05 | 12.01 % | -1.44 % |
| Midtown South Manhattan Office Class A | 2.23 | 0.8 | 3.03 | 15.18 % abc | -5.42 % |
| Downtown Manhattan Office Class A | 10.3 | 2.26 | 12.55 | 14.05 % | 5.38 % |
| Total Manhattan Office Class A | 36.89 | 7.74 | 44.64 | % | 0.86 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.8 million RSF to 22.85 million RSF
- Total Manhattan Office Market vacancies decreased from 36.41 million RSF to 36.16 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.02 | 3.06 | 22.08 | 8.2 % | -0.49 % |
| Midtown South Manhattan Office | 5.48 | 0.65 | 6.13 | 6.8 % | -6.26 % |
| Downtown Manhattan Office | 6.91 | 1.04 | 7.94 | 8.2 % | 2.95 % |
| Total Manhattan Office | 31.41 | 4.75 | 36.16 | 8.0 % | -0.71 % |
| 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 | 32.22 | 6.24 | 38.45 | 11.3 % | -0.49 % |
| Midtown South Manhattan Office | 9.73 | 2.5 | 12.24 | 11.15 % abc | -6.26 % |
| Downtown Manhattan Office | 12.85 | 2.52 | 15.37 | 12.09 % | 3.88 % |
| Total Manhattan Office | 54.8 | 11.26 | 66.06 | % | 1.21 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 31.4 million RSF to 31.41 million RSF.
- Manhattan Office Sublease vacancy decreased from 5.01 million RSF to 4.75 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.41 million RSF to 36.16 million RSF
- Total Midtown Office vacancy decreased from 22.19 million RSF to 22.08 million RSF
- Total Midtown South Office vacancy decreased from 6.52 million RSF to 6.13 million RSF
- Total Downtown Office vacancy increased from 7.71 million RSF to 7.94 million RSF.
