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Size of office area in Manhattan in Q3 2020, by district

The size of office space in Midtown Manhattan amounted to 239.72 million square feet in the third quarter of 2020. This was the largest district in terms of office inventory, followed by Midtown South and Downtown Manhattan.

Importance of New York for office space

Manhattan is the most famous borough of New York City, and is home to the headquarters of many international organizations as well as multinational corporations, such as the United Nations, Citi and Pfizer. The borough is also located on an island in the middle of the city, which means that the volume space is limited in supply, meaning that real estate is in high demand there. Asking rents in the borough are, consequently, very high.

Availability of office space

The availability rate of office space in Manhattan varies between the districts, but is almost ten percent on average. This means that roughly ten percent of total rentable space is available.

Size of office real estate in Manhattan in Q3 2020, by district

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Source

Release date

October 2020

Region

United States

Survey time period

Q3 2020

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Statistics on "Office real estate in the United States"

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