market research

January 2014

January 2014 » Market Analysis » New York Office Report

January 2014 New York Real Estate Office Graphs & 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 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.



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building