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May 2019

May 2019 » Market Analysis » New York Office Report

May 2019 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 12.5 2.74 15.24 8.5 % -1.19 %
Midtown South Manhattan Office Class A 0.7 0.07 0.76 7.4 % -23.98 %
Downtown Manhattan Office Class A 5.97 0.87 6.85 10.1 % -2.98 %
Total Manhattan Office Class A 19.17 3.68 22.85 10.1 % -2.49 %
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 27.93 5.46 33.38 13.3 % -1.19 %
Midtown South Manhattan Office Class A 2.55 0.39 2.94 14.06 % abc -23.98 %
Downtown Manhattan Office Class A 8.62 2.42 11.03 12.36 % -1.03 %
Total Manhattan Office Class A 39.09 8.26 47.36 % 1.42 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.42 million RSF to 22.85 million RSF.
  • Total Manhattan Office Market vacancies decreased from 35.72 million RSF to 34.83 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.93 3.46 20.39 8.0 % -2.84 %
Midtown South Manhattan Office 4.79 0.87 5.66 6.7 % -2.44 %
Downtown Manhattan Office 7.72 1.05 8.78 8.9 % -1.98 %
Total Manhattan Office 29.44 5.39 34.83 8.0 % -2.56 %
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 34.75 6.66 41.41 11.9 % -2.84 %
Midtown South Manhattan Office 8.57 2.01 10.57 9.57 % abc -2.44 %
Downtown Manhattan Office 11.29 2.74 14.03 10.95 % 0.45 %
Total Manhattan Office 54.6 11.41 66.01 % 0.34 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 30.02 million RSF to 29.44 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.7 million RSF to 5.39 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 35.72 million RSF to 34.83 million RSF
  • Total Midtown Office vacancy decreased from 20.97 million RSF to 20.39 million RSF
  • Total Midtown South Office vacancy decreased from 5.8 million RSF to 5.66 million RSF
  • Total Downtown Office vacancy decreased from 8.95 million RSF to 8.78 million RSF



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