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October 2016

October 2016 » Market Analysis » New York Office Report

October 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 15.75 1.69 17.44 9.7 % 1.3 %
Midtown South Manhattan Office Class A 0.2 0.04 0.25 3.0 % 24.9 %
Downtown Manhattan Office Class A 6.8 0.54 7.35 10.0 % 0.56 %
Total Manhattan Office Class A 22.76 2.28 25.03 9.5 % 1.32 %
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 28.1 4.06 32.16 13.26 % 1.3 %
Midtown South Manhattan Office Class A 0.9 0.11 1.01 6.16 % abc 24.9 %
Downtown Manhattan Office Class A 10.92 1.17 12.09 13.74 % 1.37 %
Total Manhattan Office Class A 39.92 5.34 45.26 % 1.59 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 24.7 million RSF to 25.03 million RSF
  • Total Manhattan Office Market vacancies increased from 38.02 million RSF to 38.66 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.8 2.37 23.18 8.8 % 1.2 %
Midtown South Manhattan Office 5.45 0.65 6.1 6.9 % 4.23 %
Downtown Manhattan Office 8.74 0.65 9.38 8.8 % 1.17 %
Total Manhattan Office 34.99 3.67 38.66 8.5 % 1.67 %
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 35.92 5.6 41.52 12.19 % 1.2 %
Midtown South Manhattan Office 8.31 1.6 9.91 9.41 % abc 4.23 %
Downtown Manhattan Office 13.81 1.38 15.19 12.03 % 1.7 %
Total Manhattan Office 58.03 8.58 66.61 % 2.66 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 34.65 million RSF to 34.99 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.37 million RSF to 3.67 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 38.02 million RSF to 38.66 million RSF.
  • Total Midtown Office vacancy increased from 22.9 million RSF to 23.18 million RSF.
  • Total Midtown South Office vacancy increased from 5.84 million RSF to 6.1 million RSF.
  • Total Downtown Office vacancy increased from 9.28 million RSF to 9.38 million RSF.



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