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November 2017 » 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 | 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.
