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1. • 550 million square feet

     • Based on data provided by the New York City Department of Finance, there were 550 million square feet of office space in the City in 2016.1 While there are commercial districts in each of the five boroughs, the three largest business districts in Manhattan (Midtown, Midtown South and Downtown) together contain 450 million square feet of office space, or 82 percent of all space citywide.2 As a result, real estate professionals consider these districts to be representative of the City.
     Reference:

     New York City’s Office Market - Office of the New York ...

2. People also ask

   How much office space does Midtown Manhattan have?

   • In the fourth quarter of 2022, Midtown Manhattan had 241.01 million square feet of office space, which was the largest district in terms of office inventory.

   Manhattan: total office space by district 2022 | Statista

   www.statista.com/statistics/605882/size-of-office-area-manhattan-by-submarket/

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   How much did Manhattan office real estate cost in Q2 2023?

   • In total, 36 office deals closed, for a gain of 5.9% compared to the same period last year. The median price per square foot in Quarter 2, 2023 was $911, a change of -12.2% Y-o-Y. Manhattan office real estate price per square foot in Quarter 2, 2023 was $911, down by 12.2% Y-o-Y.

   Manhattan Office Market Trends - PropertyShark

   www.propertyshark.com/mason/market-trends/office/nyc/manhattan

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   How many office workers work in New York City?

   • 1.6 million City residents worked in the office sector in New York City in 2019.6 Office workers tend to exhibit different economic and demographic characteristics from nonoffice workers. Office workers are less likely to reside in the City than workers in other sectors (70 percent compared to 81 percent).

   The Office Sector in New York City - Office of the New York State

   www.osc.state.ny.us/files/reports/osdc/pdf/report-11-2022.pdf

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   Where are the most office jobs in Manhattan?

   • The majority of office jobs are in Manhattan. Of the three major business districts in Manhattan (Midtown, Midtown South, and Downtown; see Figure 1), the majority of office sector jobs are located in Midtown, which has more than two-thirds of the total.

   The Office Sector in New York City - Office of the New York State

   www.osc.state.ny.us/files/reports/osdc/pdf/report-11-2022.pdf

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   What's going on with New York City's office vacancy rates in 2021?

   • 4.2 percent in the second quarter of 2021, while vacancy rates are at 18.3 percent, a level not seen in over 30 years in New York City. The full market value of office buildings fell $28.6 billion citywide on the FY 2022 final assessment roll, the first decline in total office property market values since at least FY 2000.

   The Office Sector in New York City - Office of the New York State

   www.osc.state.ny.us/files/reports/osdc/pdf/report-11-2022.pdf

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   Which borough in New York City has the largest office inventory?

   • Manhattan is the borough in New York City with the largest office inventory, followed by Midtown South and Downtown Manhattan. It is the most famous borough of New York City, and is home to the headquarters of many international organizations and multinational corporations, such as the United Nations, Citi and Pfizer.

   Manhattan: total office space by district 2022 | Statista

   www.statista.com/statistics/605882/size-of-office-area-manhattan-by-submarket/

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3. www.statista.com › statistics › 605882Manhattan: total office space by district 2024 - Statista

   www.statista.com › statistics › 605882

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   Apr 24, 2024 · The amount of office space in Midtown Manhattan amounted to 241.3 million square feet in the first quarter of 2024. This was the largest district in terms of office inventory, followed...

   • Midtown Manhattan

     Colliers International, Average asking rent for office space...

4. www.osc.state.ny.us › files › reportsNew York City’s Office Market - Office of the New York ...

   www.osc.state.ny.us › files › reports

   The City’s three main business districts (Midtown, Midtown South, and Downtown Manhattan) together contain 450 million square feet of office space, representing more than one-quarter of all the office space in the nation’s business districts.

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5. comptroller.nyc.gov › reports › spotlight-new-yorkSpotlight: New York City’s Office Market - Office of the ...

   comptroller.nyc.gov › reports › spotlight-new-york

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   As an illustration, the average asking rent for 5-star (i.e. “trophy”) office space—mostly in Manhattan—is roughly $100/square foot (SF). This essentially represents the top quintile of Class A space, which, in turn, comprises a majority of office space in Manhattan.

6. www.nmrk.com › storage-nmrk › uploadsManhattan Office Market

   www.nmrk.com › storage-nmrk › uploads

   million square feet is slated to deliver across Manhattan over the next 24 months, with 66 Hudson Boulevard, 50 Hudson Yards, 2 Manhattan West, and 550 Washington Street among the largest developments.

7. www.osc.state.ny.us › files › reportsThe Office Sector in New York City - Office of the New York ...

   www.osc.state.ny.us › files › reports

   Manhattan alone had 463.8 million square feet of office inventory as of the second quarter of calendar year 2021, accounting for nearly 11 percent of all office space in the nation.

   • File Size: 492KB

   • Page Count: 15

8. www.commercialcafe.com › us › nyManhattan Office Price per Sqft and Office Market Trends

   www.commercialcafe.com › us › ny

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   The sale price for office space in Manhattan averaged $833.93 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide New York average office sale price during the same time period was $393.23 per square foot.

9. www.propertyshark.com › mason › market-trendsManhattan Office Market Trends - PropertyShark

   www.propertyshark.com › mason › market-trends

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   Manhattan office real estate total square feet in Quarter 2, 2024 was 3.9M, up by 110.7% Y-o-Y.