Goldman Sachs top source of sublease space

The leading source of the sublease space now flooding the city’s commercial office market is Goldman Sachs, which has put 597,000 square feet on the market at 77 Water Street. Barclays has put 456,842 square feet on the market at 277 Park Avenue. All together, sublease space in New York City has ballooned 139.2 percent since the second quarter of 2007 and now stands at 17.1 million square feet. At the height of the last recession, between 2001 and 2004, sublease space never topped 14.4 million square feet.