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August 2014

August 2014 » Market Analysis » New York Office Report

August 2014 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 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



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