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July 2013

July 2013 » Market Analysis » New York Office Report

July 2013 New York City 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 13.12 2.53 15.65 8.7 % -2.17 %
Midtown South Manhattan Office Class A 0.62 0.02 0.63 7.6 % 8.83 %
Downtown Manhattan Office Class A 4.66 0.57 5.23 7.8 % -1.59 %
Total Manhattan Office Class A 18.4 3.12 21.52 8.5 % -1.71 %
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 23.18 5.88 29.06 12.71 % -2.17 %
Midtown South Manhattan Office Class A 1.15 0.02 1.17 7.99 % abc 8.83 %
Downtown Manhattan Office Class A 15.38 1.43 16.81 19.08 % 0.33 %
Total Manhattan Office Class A 39.71 7.33 47.04 % -0.07 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 21.88 million RSF to 21.51 million RSF.
  • Total Manhattan Office Market vacancies decreased from 34.09 million RSF to 33.09 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.56 2.97 20.53 7.8 % -2.56 %
Midtown South Manhattan Office 5.09 0.21 5.3 6.3 % -4.6 %
Downtown Manhattan Office 6.53 0.73 7.26 6.9 % -3.11 %
Total Manhattan Office 29.18 3.91 33.09 7.3 % -3.01 %
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 30.65 6.97 37.61 11.41 % -2.56 %
Midtown South Manhattan Office 8.54 1.0 9.54 9.1 % abc -4.6 %
Downtown Manhattan Office 18.93 1.94 20.86 15.66 % -0.22 %
Total Manhattan Office 58.12 9.9 68.02 % -0.97 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 29.63 million RSF to 29.18 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.46 million RSF to 3.91 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 34.09 million RSF to 33.09 million RSF
  • Total Midtown Office vacancy decreased from 21.05 million RSF to 20.53 million RSF
  • Total Midtown South Office vacancy decreased from 5.54 million RSF to 5.3 million RSF
  • Total Downtown Office vacancy decreased from 7.49 million RSF to 7.26 million RSF



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