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February 2015

February 2015 » Market Analysis » New York Office Report

February 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 13.48 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.



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