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February 2015 » Market Analysis » New York Office Report
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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 | 13.48 | 2.05 | 15.53 | 9.1 % | -4.85 % |
| Midtown South Manhattan Office Class A | 0.39 | 0.09 | 0.48 | 4.2 % | -10.65 % |
| Downtown Manhattan Office Class A | 8.04 | 0.5 | 8.54 | 13.1 % | 9.09 % |
| Total Manhattan Office Class A | 21.9 | 2.64 | 24.55 | 9.9 % | -0.11 % |
| 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 | 21.79 | 4.95 | 26.74 | 11.46 % | -4.85 % |
| Midtown South Manhattan Office Class A | 0.58 | 0.09 | 0.67 | 4.36 % abc | -10.65 % |
| Downtown Manhattan Office Class A | 12.62 | 0.9 | 13.52 | 15.17 % | 10.64 % |
| Total Manhattan Office Class A | 34.99 | 5.94 | 40.93 | % | 6.93 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.57 million RSF to 24.55 million RSF.
- Total Manhattan Office Market vacancies decreased from 36.02 million RSF to 34.99 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.36 | 2.42 | 19.78 | 7.9 % | -4.6 % |
| Midtown South Manhattan Office | 4.39 | 0.42 | 4.82 | 6.2 % | -18.44 % |
| Downtown Manhattan Office | 9.67 | 0.73 | 10.4 | 10.8 % | 7.4 % |
| Total Manhattan Office | 31.43 | 3.57 | 34.99 | 8.2 % | -2.93 % |
| 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 | 28.4 | 6.33 | 34.73 | 10.41 % | -4.6 % |
| Midtown South Manhattan Office | 7.89 | 1.16 | 9.04 | 8.51 % abc | -18.44 % |
| Downtown Manhattan Office | 15.29 | 1.21 | 16.5 | 12.73 % | 8.41 % |
| Total Manhattan Office | 51.58 | 8.7 | 60.27 | % | 4.93 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.3 million RSF to 31.43 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.72 million RSF to 3.57 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.02 million RSF to 34.99 million RSF
- Total Midtown Office vacancy decreased from 20.69 million RSF to 19.78 million RSF
- Total Midtown South Office vacancy decreased from 5.7 million RSF to 4.82 million RSF
- Total Downtown Office vacancy increased from 9.63 million RSF to 10.4 million RSF.
