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August 2013

August 2013 » Market Analysis » New York Office Report

August 2013 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 12.95 2.89 15.84 8.4 % 1.19 %
Midtown South Manhattan Office Class A 0.53 0.02 0.54 7.6 % -16.54 %
Downtown Manhattan Office Class A 4.53 0.48 5.02 7.8 % -4.21 %
Total Manhattan Office Class A 18.01 3.39 21.4 8.2 % -0.52 %
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 23.11 6.23 29.34 12.8 % 1.19 %
Midtown South Manhattan Office Class A 1.08 0.02 1.09 7.46 % abc -16.54 %
Downtown Manhattan Office Class A 15.17 1.43 16.59 18.8 % -1.3 %
Total Manhattan Office Class A 39.35 7.67 47.02 % -0.03 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 21.51 million RSF to 21.4 million RSF.
  • Total Manhattan Office Market vacancies increased from 33.09 million RSF to 33.41 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.24 3.33 20.57 7.6 % 0.22 %
Midtown South Manhattan Office 5.34 0.27 5.61 6.6 % 5.54 %
Downtown Manhattan Office 6.45 0.77 7.22 7.0 % -0.58 %
Total Manhattan Office 29.03 4.37 33.41 7.3 % 0.94 %
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 30.32 7.28 37.6 11.42 % 0.22 %
Midtown South Manhattan Office 8.68 1.1 9.78 9.36 % abc 5.54 %
Downtown Manhattan Office 18.71 2.01 20.72 15.57 % -0.69 %
Total Manhattan Office 57.71 10.39 68.1 % 0.12 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 29.18 million RSF to 29.03 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.91 million RSF to 4.37 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.09 million RSF to 33.41 million RSF.
  • Total Midtown Office vacancy increased from 20.53 million RSF to 20.57 million RSF.
  • Total Midtown South Office vacancy increased from 5.3 million RSF to 5.61 million RSF.
  • Total Downtown Office vacancy decreased from 7.26 million RSF to 7.22 million RSF



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