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August 2014 » Market Analysis » New York Office Report
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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 | 14.4 | 2.01 | 16.41 | 8.7 % | 2.39 % |
| Midtown South Manhattan Office Class A | 0.62 | 0.1 | 0.72 | 5.9 % | -25.52 % |
| Downtown Manhattan Office Class A | 6.33 | 0.44 | 6.77 | 13.5 % | -5.51 % |
| Total Manhattan Office Class A | 21.35 | 2.55 | 23.9 | 9.8 % | -0.68 % |
| 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 | 22.1 | 4.38 | 26.48 | 11.57 % | 2.39 % |
| Midtown South Manhattan Office Class A | 0.64 | 0.12 | 0.76 | 4.94 % abc | -25.52 % |
| Downtown Manhattan Office Class A | 11.52 | 1.06 | 12.58 | 14.45 % | -2.94 % |
| Total Manhattan Office Class A | 34.26 | 5.56 | 39.82 | % | -1.67 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.06 million RSF to 23.9 million RSF.
- Total Manhattan Office Market vacancies decreased from 35.88 million RSF to 35.69 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.62 | 2.37 | 20.99 | 7.8 % | 0.21 % |
| Midtown South Manhattan Office | 5.38 | 0.54 | 5.92 | 6.9 % | 0.95 % |
| Downtown Manhattan Office | 8.12 | 0.67 | 8.78 | 10.9 % | -3.35 % |
| Total Manhattan Office | 32.12 | 3.57 | 35.69 | 8.4 % | -0.54 % |
| 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 | 28.75 | 5.59 | 34.34 | 10.44 % | 0.21 % |
| Midtown South Manhattan Office | 8.93 | 1.1 | 10.03 | 9.45 % abc | 0.95 % |
| Downtown Manhattan Office | 14.33 | 1.54 | 15.88 | 12.28 % | -2.01 % |
| Total Manhattan Office | 52.01 | 8.24 | 60.25 | % | -1.31 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.55 million RSF to 32.12 million RSF.
- Manhattan Office Sublease vacancy increased from 3.34 million RSF to 3.57 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 35.88 million RSF to 35.69 million RSF
- Total Midtown Office vacancy increased from 20.95 million RSF to 20.99 million RSF.
- Total Midtown South Office vacancy increased from 5.86 million RSF to 5.92 million RSF.
- Total Downtown Office vacancy decreased from 9.07 million RSF to 8.78 million RSF
