market research

January 2015

January 2015 » Market Analysis » New York Office Report

January 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 14.16 2.13 16.28 8.6 % 9.81 %
Midtown South Manhattan Office Class A 0.42 0.11 0.53 4.3 % 6.6 %
Downtown Manhattan Office Class A 7.26 0.5 7.76 12.4 % 9.96 %
Total Manhattan Office Class A 21.83 2.74 24.57 9.4 % 9.79 %
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 20.47 4.82 25.29 10.95 % 9.81 %
Midtown South Manhattan Office Class A 0.62 0.11 0.73 4.7 % abc 6.6 %
Downtown Manhattan Office Class A 11.05 1.03 12.08 13.67 % -0.45 %
Total Manhattan Office Class A 32.13 5.96 38.09 % -0.32 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.17 million RSF to 24.57 million RSF
  • Total Manhattan Office Market vacancies increased from 32.89 million RSF to 36.02 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.18 2.5 20.69 7.6 % 9.09 %
Midtown South Manhattan Office 5.22 0.49 5.7 6.8 % 9.54 %
Downtown Manhattan Office 8.9 0.73 9.63 10.4 % 7.37 %
Total Manhattan Office 32.3 3.72 36.02 8.0 % 8.7 %
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 26.75 5.99 32.75 9.91 % 9.09 %
Midtown South Manhattan Office 8.23 1.2 9.44 8.92 % abc 9.54 %
Downtown Manhattan Office 13.76 1.35 15.11 11.74 % -0.62 %
Total Manhattan Office 48.75 8.55 57.3 % -1.16 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.42 million RSF to 32.3 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.46 million RSF to 3.72 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.89 million RSF to 36.02 million RSF.
  • Total Midtown Office vacancy increased from 18.81 million RSF to 20.69 million RSF.
  • Total Midtown South Office vacancy increased from 5.16 million RSF to 5.7 million RSF.
  • Total Downtown Office vacancy increased from 8.92 million RSF to 9.63 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