A subset of large buildings make up a majority of Manhattan's office space availability

Office Space Availability

Over the past decade, 10% of new industrial space delivered in the Greater Montréal area has been LEED certified (or is in the process of obtaining the certification).
  • As of Q2 2023, the Manhattan office market included 103.3 msf of available space. This square footage is concentrated in just over 1,300 buildings out of the over 2,000 office buildings in Manhattan.
     
  • Surprisingly, availability isn't evenly distributed: the top 25% of buildings, a total of 340, hold a staggering 76.7% (79.2 msf) of the available space. This reveals that the increasing availability isn't as widespread as it seems at first glance.
     
  • Among these 340 buildings holding the lion's share of available square footage, 81 are categorized as Trophy buildings, collectively offering 23.1 msf. Additionally, 118 are classified as Class A buildings, providing a combined 31.8 msf, while 141 fall into the Class B/C category, contributing 24.3 msf to the available space.

July 28, 2023

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