market research

October 2017

October 2017 » Market Analysis » New York Office Report

October 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 14.48 2.41 16.89 9.3 % -2.03 %
Midtown South Manhattan Office Class A 0.39 0.09 0.48 3.9 % -9.79 %
Downtown Manhattan Office Class A 5.36 0.47 5.83 9.8 % -7.71 %
Total Manhattan Office Class A 20.23 2.96 23.19 9.2 % -3.61 %
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 23.5 4.86 28.36 11.83 % -2.03 %
Midtown South Manhattan Office Class A 1.57 0.55 2.12 11.78 % abc -9.79 %
Downtown Manhattan Office Class A 9.98 1.78 11.76 13.22 % -0.03 %
Total Manhattan Office Class A 35.05 7.19 42.24 % 0.48 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.03 million RSF to 23.19 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.86 million RSF to 37.49 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.86 3.28 23.14 8.8 % -0.83 %
Midtown South Manhattan Office 5.74 1.02 6.76 7.5 % 4.38 %
Downtown Manhattan Office 6.97 0.62 7.59 8.4 % -6.26 %
Total Manhattan Office 32.56 4.93 37.49 8.4 % -0.99 %
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 31.82 6.48 38.3 11.31 % -0.83 %
Midtown South Manhattan Office 9.33 2.63 11.95 11.09 % abc 4.38 %
Downtown Manhattan Office 12.55 2.02 14.57 11.49 % -0.14 %
Total Manhattan Office 53.7 11.13 64.82 % 1.26 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.89 million RSF to 32.56 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.97 million RSF to 4.93 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.86 million RSF to 37.49 million RSF
  • Total Midtown Office vacancy decreased from 23.33 million RSF to 23.14 million RSF
  • Total Midtown South Office vacancy increased from 6.47 million RSF to 6.76 million RSF.
  • Total Downtown Office vacancy decreased from 8.06 million RSF to 7.59 million RSF



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building