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April 2014 » Market Analysis » New York Office Report
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NYC Real Estate Statistics
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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 | 14.45 | 2.0 | 16.45 | 8.7 % | 1.28 % |
| Midtown South Manhattan Office Class A | 0.85 | 0.05 | 0.9 | 8.4 % | 3.67 % |
| Downtown Manhattan Office Class A | 7.62 | 0.57 | 8.18 | 13.2 % | 4.45 % |
| Total Manhattan Office Class A | 22.91 | 2.62 | 25.53 | 9.8 % | 2.38 % |
| 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 | 23.07 | 4.76 | 27.83 | 12.07 % | 1.28 % |
| Midtown South Manhattan Office Class A | 0.87 | 0.07 | 0.94 | 6.21 % abc | 3.67 % |
| Downtown Manhattan Office Class A | 13.69 | 1.0 | 14.68 | 16.74 % | 1.38 % |
| Total Manhattan Office Class A | 37.62 | 5.83 | 43.46 | % | -4.31 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 24.93 million RSF to 25.53 million RSF
- Total Manhattan Office Market vacancies increased from 36.59 million RSF to 37.1 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.97 | 2.27 | 21.24 | 7.9 % | 0.91 % |
| Midtown South Manhattan Office | 5.15 | 0.43 | 5.58 | 7.0 % | -3.08 % |
| Downtown Manhattan Office | 9.5 | 0.77 | 10.27 | 10.9 % | 4.72 % |
| Total Manhattan Office | 33.62 | 3.47 | 37.1 | 8.4 % | 1.37 % |
| 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 | 29.92 | 5.67 | 35.59 | 10.79 % | 0.91 % |
| Midtown South Manhattan Office | 8.63 | 1.31 | 9.94 | 9.36 % abc | -3.08 % |
| Downtown Manhattan Office | 16.41 | 1.42 | 17.83 | 13.7 % | 1.54 % |
| Total Manhattan Office | 54.95 | 8.41 | 63.36 | % | -2.32 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 33.08 million RSF to 33.62 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.51 million RSF to 3.47 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 36.59 million RSF to 37.1 million RSF.
- Total Midtown Office vacancy increased from 21.05 million RSF to 21.24 million RSF.
- Total Midtown South Office vacancy decreased from 5.75 million RSF to 5.58 million RSF
- Total Downtown Office vacancy increased from 9.79 million RSF to 10.27 million RSF.
