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April 2015

April 2015 » Market Analysis » New York Office Report

April 2015 NYC 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 13.14 2.0 15.14 9.0 % 0.44 %
Midtown South Manhattan Office Class A 0.37 0.02 0.39 3.4 % -12.37 %
Downtown Manhattan Office Class A 7.58 0.45 8.03 12.7 % 0.24 %
Total Manhattan Office Class A 21.09 2.46 23.55 9.7 % 0.16 %
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 21.59 4.69 26.28 11.26 % 0.44 %
Midtown South Manhattan Office Class A 0.55 0.03 0.58 3.75 % abc -12.37 %
Downtown Manhattan Office Class A 12.71 1.09 13.81 15.36 % 1.78 %
Total Manhattan Office Class A 34.85 5.81 40.66 % -0.25 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.51 million RSF to 23.55 million RSF
  • Total Manhattan Office Market vacancies increased from 33.84 million RSF to 34.03 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.08 2.28 19.36 7.9 % -0.1 %
Midtown South Manhattan Office 4.67 0.27 4.94 6.1 % 3.52 %
Downtown Manhattan Office 9.17 0.56 9.73 10.7 % 0.33 %
Total Manhattan Office 30.92 3.11 34.03 8.2 % 0.55 %
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 28.37 5.93 34.3 10.27 % -0.1 %
Midtown South Manhattan Office 8.19 0.99 9.17 8.68 % abc 3.52 %
Downtown Manhattan Office 15.24 1.38 16.62 12.77 % 1.1 %
Total Manhattan Office 51.79 8.3 60.09 % 0.09 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.69 million RSF to 30.92 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.15 million RSF to 3.11 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.84 million RSF to 34.03 million RSF.
  • Total Midtown Office vacancy decreased from 19.38 million RSF to 19.36 million RSF
  • Total Midtown South Office vacancy increased from 4.77 million RSF to 4.94 million RSF.
  • Total Downtown Office vacancy increased from 9.7 million RSF to 9.73 million RSF.



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