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November 2016

November 2016 » Market Analysis » New York Office Report

November 2016 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 15.89 1.66 17.55 9.4 % 0.64 %
Midtown South Manhattan Office Class A 0.21 0.02 0.22 2.2 % -11.16 %
Downtown Manhattan Office Class A 6.78 0.57 7.35 10.0 % -0.04 %
Total Manhattan Office Class A 22.88 2.24 25.12 9.2 % 0.34 %
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 28.18 4.34 32.51 13.4 % 0.64 %
Midtown South Manhattan Office Class A 0.96 0.08 1.04 6.37 % abc -11.16 %
Downtown Manhattan Office Class A 10.97 1.21 12.18 13.83 % 0.78 %
Total Manhattan Office Class A 40.11 5.63 45.74 % 1.05 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 25.03 million RSF to 25.12 million RSF
  • Total Manhattan Office Market vacancies increased from 38.66 million RSF to 39.02 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 21.01 2.39 23.4 8.7 % 0.94 %
Midtown South Manhattan Office 5.59 0.61 6.2 6.9 % 1.66 %
Downtown Manhattan Office 8.75 0.67 9.42 8.8 % 0.33 %
Total Manhattan Office 35.35 3.67 39.02 8.4 % 0.91 %
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 36.16 5.95 42.11 12.34 % 0.94 %
Midtown South Manhattan Office 8.76 1.88 10.64 10.03 % abc 1.66 %
Downtown Manhattan Office 13.87 1.43 15.3 12.12 % 0.75 %
Total Manhattan Office 58.78 9.27 68.05 % 2.12 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 34.99 million RSF to 35.35 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.67 million RSF to 3.67 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 38.66 million RSF to 39.02 million RSF.
  • Total Midtown Office vacancy increased from 23.18 million RSF to 23.4 million RSF.
  • Total Midtown South Office vacancy increased from 6.1 million RSF to 6.2 million RSF.
  • Total Downtown Office vacancy increased from 9.38 million RSF to 9.42 million RSF.



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