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April 2014

April 2014 » Market Analysis » New York Office Report

April 2014 New York Office Space Graphs and Statistics


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.



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