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November 2017

November 2017 » Market Analysis » New York Office Report

November 2017 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 14.58 2.68 17.26 9.4 % 2.16 %
Midtown South Manhattan Office Class A 0.4 0.05 0.45 3.8 % -6.67 %
Downtown Manhattan Office Class A 5.62 0.51 6.13 10.3 % 4.93 %
Total Manhattan Office Class A 20.6 3.24 23.84 9.3 % 2.7 %
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 23.93 5.0 28.93 12.05 % 2.16 %
Midtown South Manhattan Office Class A 1.57 0.49 2.06 11.44 % abc -6.67 %
Downtown Manhattan Office Class A 10.01 1.9 11.9 13.4 % 1.2 %
Total Manhattan Office Class A 35.51 7.39 42.89 % 1.52 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.19 million RSF to 23.84 million RSF
  • Total Manhattan Office Market vacancies increased from 37.49 million RSF to 38.36 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.99 3.63 23.62 8.8 % 2.04 %
Midtown South Manhattan Office 5.82 0.97 6.79 7.7 % 0.37 %
Downtown Manhattan Office 7.29 0.66 7.95 8.7 % 4.49 %
Total Manhattan Office 33.1 5.25 38.36 8.6 % 2.25 %
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 32.2 6.73 38.93 11.46 % 2.04 %
Midtown South Manhattan Office 9.45 2.37 11.81 10.99 % abc 0.37 %
Downtown Manhattan Office 12.61 2.15 14.76 11.65 % 1.27 %
Total Manhattan Office 54.26 11.24 65.5 % 1.03 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 32.56 million RSF to 33.1 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.93 million RSF to 5.25 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 37.49 million RSF to 38.36 million RSF.
  • Total Midtown Office vacancy increased from 23.14 million RSF to 23.62 million RSF.
  • Total Midtown South Office vacancy increased from 6.76 million RSF to 6.79 million RSF.
  • Total Downtown Office vacancy increased from 7.59 million RSF to 7.95 million RSF.



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