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August 2015

August 2015 » Market Analysis » New York Office Report

August 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 12.71 1.65 14.36 8.7 % -0.65 %
Midtown South Manhattan Office Class A 0.27 0.09 0.36 3.1 % 13.73 %
Downtown Manhattan Office Class A 7.49 0.29 7.79 12.5 % -3.02 %
Total Manhattan Office Class A 20.46 2.04 22.5 9.4 % -1.24 %
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 23.41 4.25 27.66 11.58 % -0.65 %
Midtown South Manhattan Office Class A 0.43 0.19 0.62 4.02 % abc 13.73 %
Downtown Manhattan Office Class A 12.01 1.07 13.08 14.62 % -3.28 %
Total Manhattan Office Class A 35.85 5.51 41.36 % -1.6 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 22.78 million RSF to 22.5 million RSF.
  • Total Manhattan Office Market vacancies increased from 32.42 million RSF to 32.76 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.35 2.11 18.45 7.7 % 1.67 %
Midtown South Manhattan Office 4.24 0.43 4.68 6.0 % 5.28 %
Downtown Manhattan Office 9.21 0.42 9.63 10.5 % -2.17 %
Total Manhattan Office 29.8 2.97 32.76 8.0 % 1.06 %
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 30.31 5.52 35.84 10.56 % 1.67 %
Midtown South Manhattan Office 7.71 1.31 9.02 8.59 % abc 5.28 %
Downtown Manhattan Office 14.59 1.34 15.93 12.36 % -2.82 %
Total Manhattan Office 52.61 8.18 60.79 % -1.34 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.59 million RSF to 29.8 million RSF.
  • Manhattan Office Sublease vacancy increased from 2.83 million RSF to 2.97 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.42 million RSF to 32.76 million RSF.
  • Total Midtown Office vacancy increased from 18.15 million RSF to 18.45 million RSF.
  • Total Midtown South Office vacancy increased from 4.43 million RSF to 4.68 million RSF.
  • Total Downtown Office vacancy decreased from 9.84 million RSF to 9.63 million RSF



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