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December 2014

December 2014 » Market Analysis » New York Office Report

December 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 12.74 1.95 14.69 8.2 % -6.44 %
Midtown South Manhattan Office Class A 0.41 0.08 0.49 4.4 % -8.08 %
Downtown Manhattan Office Class A 6.47 0.51 6.99 12.4 % 14.37 %
Total Manhattan Office Class A 19.62 2.54 22.17 9.1 % 0.09 %
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 20.29 5.11 25.4 11.04 % -6.44 %
Midtown South Manhattan Office Class A 0.57 0.11 0.68 4.4 % abc -8.08 %
Downtown Manhattan Office Class A 11.06 1.07 12.13 13.53 % -3.03 %
Total Manhattan Office Class A 31.92 6.29 38.21 % 1.05 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.15 million RSF to 22.17 million RSF
  • Total Manhattan Office Market vacancies decreased from 33.34 million RSF to 32.89 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.54 2.27 18.81 7.3 % -6.12 %
Midtown South Manhattan Office 4.7 0.46 5.16 6.5 % -4.48 %
Downtown Manhattan Office 8.18 0.74 8.92 10.5 % 10.4 %
Total Manhattan Office 29.42 3.46 32.89 7.9 % -1.38 %
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 26.72 6.39 33.12 10.03 % -6.12 %
Midtown South Manhattan Office 8.44 1.21 9.64 9.07 % abc -4.48 %
Downtown Manhattan Office 13.8 1.41 15.21 11.7 % -2.99 %
Total Manhattan Office 48.96 9.01 57.97 % -0.52 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 29.67 million RSF to 29.42 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.67 million RSF to 3.46 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.34 million RSF to 32.89 million RSF
  • Total Midtown Office vacancy decreased from 19.96 million RSF to 18.81 million RSF
  • Total Midtown South Office vacancy decreased from 5.39 million RSF to 5.16 million RSF
  • Total Downtown Office vacancy increased from 7.99 million RSF to 8.92 million RSF.



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