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September 2016

September 2016 » Market Analysis » New York Office Report

September 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 15.53 1.68 17.21 9.3 % 5.28 %
Midtown South Manhattan Office Class A 0.14 0.04 0.19 2.2 % -0.53 %
Downtown Manhattan Office Class A 6.92 0.39 7.31 9.8 % 2.23 %
Total Manhattan Office Class A 22.59 2.12 24.7 9.1 % 4.34 %
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 27.93 3.68 31.61 13.06 % 5.28 %
Midtown South Manhattan Office Class A 0.9 0.11 1.01 6.19 % abc -0.53 %
Downtown Manhattan Office Class A 10.69 1.23 11.92 13.57 % 0.35 %
Total Manhattan Office Class A 39.52 5.02 44.54 % 0.88 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.63 million RSF to 24.7 million RSF
  • Total Manhattan Office Market vacancies increased from 36.6 million RSF to 38.02 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.69 2.21 22.9 8.5 % 4.14 %
Midtown South Manhattan Office 5.23 0.61 5.84 6.8 % 4.4 %
Downtown Manhattan Office 8.73 0.54 9.28 8.5 % 2.34 %
Total Manhattan Office 34.65 3.37 38.02 8.2 % 3.74 %
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 35.38 5.06 40.44 11.91 % 4.14 %
Midtown South Manhattan Office 8.07 1.4 9.47 9.01 % abc 4.4 %
Downtown Manhattan Office 13.44 1.49 14.93 11.85 % 0.31 %
Total Manhattan Office 56.9 7.94 64.84 % 0.15 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 33.22 million RSF to 34.65 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.38 million RSF to 3.37 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.6 million RSF to 38.02 million RSF.
  • Total Midtown Office vacancy increased from 21.95 million RSF to 22.9 million RSF.
  • Total Midtown South Office vacancy increased from 5.58 million RSF to 5.84 million RSF.
  • Total Downtown Office vacancy increased from 9.06 million RSF to 9.28 million RSF.



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