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December 2013

December 2013 » Market Analysis » New York Office Report

December 2013 {city} Real Estate Office Graphs & 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 14.59 2.45 17.04 9.2 % -0.43 %
Midtown South Manhattan Office Class A 0.93 0.02 0.96 7.7 % 0.84 %
Downtown Manhattan Office Class A 7.81 0.45 8.26 11.4 % 12.31 %
Total Manhattan Office Class A 23.33 2.93 26.26 9.7 % 3.62 %
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 23.36 5.17 28.53 12.4 % -0.43 %
Midtown South Manhattan Office Class A 1.2 0.03 1.23 8.25 % abc 0.84 %
Downtown Manhattan Office Class A 14.57 1.19 15.76 17.8 % 0.08 %
Total Manhattan Office Class A 39.13 6.38 45.52 % -1.19 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 25.31 million RSF to 26.26 million RSF
  • Total Manhattan Office Market vacancies increased from 37.19 million RSF to 38.35 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.14 2.78 21.92 8.0 % 1.09 %
Midtown South Manhattan Office 5.79 0.38 6.17 7.2 % -0.34 %
Downtown Manhattan Office 9.58 0.68 10.26 9.6 % 9.25 %
Total Manhattan Office 34.51 3.85 38.35 8.3 % 3.05 %
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 30.25 5.98 36.24 11.01 % 1.09 %
Midtown South Manhattan Office 9.44 1.36 10.8 10.21 % abc -0.34 %
Downtown Manhattan Office 17.72 1.67 19.39 14.76 % -0.37 %
Total Manhattan Office 57.41 9.01 66.42 % -0.58 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 32.86 million RSF to 34.51 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.33 million RSF to 3.85 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 37.19 million RSF to 38.35 million RSF.
  • Total Midtown Office vacancy increased from 21.68 million RSF to 21.92 million RSF.
  • Total Midtown South Office vacancy decreased from 6.19 million RSF to 6.17 million RSF
  • Total Downtown Office vacancy increased from 9.31 million RSF to 10.26 million RSF.



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