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December 2015

December 2015 » Market Analysis » New York Office Report

December 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 13.62 1.65 15.27 8.7 % 3.54 %
Midtown South Manhattan Office Class A 0.14 0.08 0.22 2.0 % -34.1 %
Downtown Manhattan Office Class A 7.41 0.29 7.7 10.9 % -1.91 %
Total Manhattan Office Class A 21.17 2.02 23.19 9.0 % 1.38 %
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 25.13 4.09 29.21 12.12 % 3.54 %
Midtown South Manhattan Office Class A 0.0 0.0 0.0 -0.0 % abc -34.1 %
Downtown Manhattan Office Class A 11.04 1.23 12.26 13.8 % -5.7 %
Total Manhattan Office Class A 36.16 5.32 41.48 % -1.35 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.87 million RSF to 23.19 million RSF
  • Total Manhattan Office Market vacancies increased from 33.42 million RSF to 33.8 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.45 2.26 19.71 7.8 % 2.44 %
Midtown South Manhattan Office 4.32 0.45 4.76 5.9 % 3.21 %
Downtown Manhattan Office 8.92 0.41 9.33 9.2 % -2.65 %
Total Manhattan Office 30.7 3.11 33.8 7.8 % 1.14 %
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 31.91 5.35 37.26 212.32 % 2.44 %
Midtown South Manhattan Office 7.35 1.24 8.59 8.22 % abc 3.21 %
Downtown Manhattan Office 13.69 1.46 15.16 11.87 % -5.03 %
Total Manhattan Office 52.95 8.06 61.0 % -0.31 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.41 million RSF to 30.7 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.01 million RSF to 3.11 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.42 million RSF to 33.8 million RSF.
  • Total Midtown Office vacancy increased from 19.23 million RSF to 19.71 million RSF.
  • Total Midtown South Office vacancy increased from 4.61 million RSF to 4.76 million RSF.
  • Total Downtown Office vacancy decreased from 9.58 million RSF to 9.33 million RSF



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