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September 2018

September 2018 » Market Analysis » New York Office Report

September 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 12.82 2.34 15.16 8.4 % -1.17 %
Midtown South Manhattan Office Class A 0.38 0.13 0.51 3.4 % 11.27 %
Downtown Manhattan Office Class A 7.01 0.9 7.91 11.3 % 1.89 %
Total Manhattan Office Class A 20.2 3.38 23.58 11.3 % 0.12 %
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 23.19 4.89 28.09 11.75 % -1.17 %
Midtown South Manhattan Office Class A 2.12 0.74 2.86 13.62 % abc 11.27 %
Downtown Manhattan Office Class A 10.01 2.24 12.25 13.58 % -0.9 %
Total Manhattan Office Class A 35.33 7.87 43.2 % -2.14 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.55 million RSF to 23.58 million RSF
  • Total Manhattan Office Market vacancies increased from 36.38 million RSF to 36.46 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.8 3.01 20.8 7.8 % -0.39 %
Midtown South Manhattan Office 4.98 0.84 5.82 6.3 % -1.61 %
Downtown Manhattan Office 8.68 1.15 9.83 9.5 % 2.58 %
Total Manhattan Office 31.47 4.99 36.46 7.9 % 0.21 %
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 30.85 6.37 37.22 11.03 % -0.39 %
Midtown South Manhattan Office 8.87 2.31 11.18 10.15 % abc -1.61 %
Downtown Manhattan Office 12.79 2.57 15.36 11.99 % -0.69 %
Total Manhattan Office 52.51 11.25 63.76 % -2.8 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.45 million RSF to 31.47 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.93 million RSF to 4.99 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.38 million RSF to 36.46 million RSF.
  • Total Midtown Office vacancy decreased from 20.89 million RSF to 20.8 million RSF
  • Total Midtown South Office vacancy decreased from 5.92 million RSF to 5.82 million RSF
  • Total Downtown Office vacancy increased from 9.58 million RSF to 9.83 million RSF.



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