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September 2017

September 2017 » Market Analysis » New York Office Report

September 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 14.79 2.44 17.23 9.3 % 2.01 %
Midtown South Manhattan Office Class A 0.45 0.08 0.53 3.7 % 3.8 %
Downtown Manhattan Office Class A 5.82 0.45 6.27 9.1 % 0.08 %
Total Manhattan Office Class A 21.06 2.97 24.03 8.9 % 1.54 %
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 23.27 4.94 28.21 11.79 % 2.01 %
Midtown South Manhattan Office Class A 1.61 0.45 2.06 11.38 % abc 3.8 %
Downtown Manhattan Office Class A 10.46 1.3 11.76 13.29 % -2.74 %
Total Manhattan Office Class A 35.35 6.69 42.04 % -6.66 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.66 million RSF to 24.03 million RSF
  • Total Manhattan Office Market vacancies increased from 36.8 million RSF to 37.86 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 20.01 3.32 23.33 8.6 % 3.13 %
Midtown South Manhattan Office 5.43 1.04 6.47 7.3 % 3.53 %
Downtown Manhattan Office 7.45 0.62 8.06 8.1 % 1.25 %
Total Manhattan Office 32.89 4.97 37.86 8.3 % 2.8 %
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 31.42 6.51 37.93 11.21 % 3.13 %
Midtown South Manhattan Office 9.22 2.26 11.48 10.65 % abc 3.53 %
Downtown Manhattan Office 13.04 1.55 14.59 11.54 % -2.33 %
Total Manhattan Office 53.68 10.32 64.0 % -4.32 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 32.02 million RSF to 32.89 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.79 million RSF to 4.97 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.8 million RSF to 37.86 million RSF.
  • Total Midtown Office vacancy increased from 22.6 million RSF to 23.33 million RSF.
  • Total Midtown South Office vacancy increased from 6.24 million RSF to 6.47 million RSF.
  • Total Downtown Office vacancy increased from 7.96 million RSF to 8.06 million RSF.



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