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January 2014 » 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 | 14.77 | 2.49 | 17.26 | 9.2 % | 1.24 % |
| Midtown South Manhattan Office Class A | 0.91 | 0.03 | 0.94 | 7.7 % | -1.7 % |
| Downtown Manhattan Office Class A | 8.1 | 0.46 | 8.55 | 11.4 % | 3.41 % |
| Total Manhattan Office Class A | 23.77 | 2.98 | 26.75 | 10.4 % | 1.83 % |
| 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 | 22.66 | 5.02 | 27.69 | 12.1 % | 1.24 % |
| Midtown South Manhattan Office Class A | 1.17 | 0.05 | 1.22 | 8.17 % abc | -1.7 % |
| Downtown Manhattan Office Class A | 13.95 | 1.18 | 15.13 | 17.27 % | -4.19 % |
| Total Manhattan Office Class A | 37.78 | 6.25 | 44.03 | % | -3.37 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 26.26 million RSF to 26.75 million RSF
- Total Manhattan Office Market vacancies increased from 38.35 million RSF to 38.58 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.21 | 2.8 | 22.01 | 8.1 % | 0.4 % |
| Midtown South Manhattan Office | 5.53 | 0.36 | 5.89 | 7.0 % | -4.88 % |
| Downtown Manhattan Office | 9.99 | 0.69 | 10.68 | 11.4 % | 3.95 % |
| Total Manhattan Office | 34.73 | 3.85 | 38.58 | 8.7 % | 0.58 % |
| 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 | 29.16 | 5.85 | 35.01 | 10.69 % | 0.4 % |
| Midtown South Manhattan Office | 9.12 | 1.31 | 10.43 | 9.89 % abc | -4.88 % |
| Downtown Manhattan Office | 16.92 | 1.63 | 18.55 | 14.27 % | -4.5 % |
| Total Manhattan Office | 55.2 | 8.79 | 63.99 | % | -3.79 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 34.51 million RSF to 34.73 million RSF.
- Manhattan Office Sublease vacancy increased from 3.85 million RSF to 3.85 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 38.35 million RSF to 38.58 million RSF.
- Total Midtown Office vacancy increased from 21.92 million RSF to 22.01 million RSF.
- Total Midtown South Office vacancy decreased from 6.17 million RSF to 5.89 million RSF
- Total Downtown Office vacancy increased from 10.26 million RSF to 10.68 million RSF.
