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November 2018

November 2018 » Market Analysis » New York Office Report

November 2018 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 12.61 2.36 14.97 8.3 % -2.56 %
Midtown South Manhattan Office Class A 0.5 0.28 0.78 5.3 % 20.17 %
Downtown Manhattan Office Class A 7.12 0.84 7.95 11.5 % -3.48 %
Total Manhattan Office Class A 20.23 3.47 23.7 11.5 % -2.13 %
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 26.1 4.92 31.01 12.72 % -2.56 %
Midtown South Manhattan Office Class A 2.08 0.81 2.89 13.48 % abc 20.17 %
Downtown Manhattan Office Class A 9.86 2.11 11.97 13.32 % -2.12 %
Total Manhattan Office Class A 38.03 7.84 45.87 % 0.72 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.2 million RSF to 23.7 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.14 million RSF to 36.32 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.59 3.06 20.65 7.9 % -1.15 %
Midtown South Manhattan Office 4.83 1.07 5.9 6.3 % -2.85 %
Downtown Manhattan Office 8.76 1.01 9.77 9.6 % -4.22 %
Total Manhattan Office 31.18 5.14 36.32 8.0 % -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 33.97 6.4 40.37 11.75 % -1.15 %
Midtown South Manhattan Office 9.18 2.48 11.66 10.43 % abc -2.85 %
Downtown Manhattan Office 12.55 2.4 14.95 11.7 % -2.75 %
Total Manhattan Office 55.7 11.27 66.97 % 1.05 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.07 million RSF to 31.18 million RSF.
  • Manhattan Office Sublease vacancy increased from 5.07 million RSF to 5.14 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.14 million RSF to 36.32 million RSF
  • Total Midtown Office vacancy decreased from 20.89 million RSF to 20.65 million RSF
  • Total Midtown South Office vacancy decreased from 6.07 million RSF to 5.9 million RSF
  • Total Downtown Office vacancy decreased from 10.18 million RSF to 9.77 million RSF



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