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October 2018

October 2018 » Market Analysis » New York Office Report

October 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 12.8 2.56 15.35 8.2 % 1.24 %
Midtown South Manhattan Office Class A 0.5 0.12 0.62 4.1 % 18.37 %
Downtown Manhattan Office Class A 7.35 0.88 8.23 11.5 % 3.93 %
Total Manhattan Office Class A 20.65 3.56 24.2 11.5 % 2.59 %
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 25.33 5.09 30.42 12.47 % 1.24 %
Midtown South Manhattan Office Class A 2.11 0.8 2.9 13.58 % abc 18.37 %
Downtown Manhattan Office Class A 9.99 2.24 12.22 13.61 % -0.22 %
Total Manhattan Office Class A 37.42 8.12 45.54 % 5.14 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.58 million RSF to 24.2 million RSF
  • Total Manhattan Office Market vacancies increased from 36.46 million RSF to 37.14 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.67 3.22 20.89 7.7 % 0.42 %
Midtown South Manhattan Office 5.28 0.79 6.07 6.7 % 4.04 %
Downtown Manhattan Office 9.12 1.06 10.18 9.6 % 3.43 %
Total Manhattan Office 32.07 5.07 37.14 8.0 % 1.84 %
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 32.82 6.58 39.4 11.51 % 0.42 %
Midtown South Manhattan Office 9.13 2.37 11.51 10.39 % abc 4.04 %
Downtown Manhattan Office 12.8 2.56 15.36 12.02 % -0.01 %
Total Manhattan Office 54.76 11.51 66.27 % 3.79 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.47 million RSF to 32.07 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.99 million RSF to 5.07 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.46 million RSF to 37.14 million RSF.
  • Total Midtown Office vacancy increased from 20.8 million RSF to 20.89 million RSF.
  • Total Midtown South Office vacancy increased from 5.82 million RSF to 6.07 million RSF.
  • Total Downtown Office vacancy increased from 9.83 million RSF to 10.18 million RSF.



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