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July 2014

July 2014 » Market Analysis » New York Office Report

July 2014 Manhattan 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 14.24 1.78 16.02 8.7 % -1.39 %
Midtown South Manhattan Office Class A 0.82 0.08 0.9 6.9 % 1.22 %
Downtown Manhattan Office Class A 6.72 0.42 7.14 13.7 % -8.09 %
Total Manhattan Office Class A 21.78 2.28 24.06 9.9 % -3.28 %
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 22.18 4.43 26.6 11.6 % -1.39 %
Midtown South Manhattan Office Class A 0.84 0.08 0.92 5.98 % abc 1.22 %
Downtown Manhattan Office Class A 11.94 1.01 12.95 14.88 % -1.29 %
Total Manhattan Office Class A 34.96 5.52 40.48 % -2.87 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.85 million RSF to 24.06 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.84 million RSF to 35.88 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.78 2.16 20.95 7.8 % -0.8 %
Midtown South Manhattan Office 5.34 0.52 5.86 7.0 % -2.64 %
Downtown Manhattan Office 8.42 0.65 9.07 11.0 % -7.01 %
Total Manhattan Office 32.55 3.34 35.88 8.4 % -2.67 %
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 29.12 5.65 34.76 10.55 % -0.8 %
Midtown South Manhattan Office 8.96 1.11 10.08 9.5 % abc -2.64 %
Downtown Manhattan Office 14.7 1.49 16.19 12.52 % -0.68 %
Total Manhattan Office 52.79 8.25 61.04 % -1.86 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 33.4 million RSF to 32.55 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.44 million RSF to 3.34 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.84 million RSF to 35.88 million RSF
  • Total Midtown Office vacancy decreased from 21.11 million RSF to 20.95 million RSF
  • Total Midtown South Office vacancy decreased from 6.02 million RSF to 5.86 million RSF
  • Total Downtown Office vacancy decreased from 9.71 million RSF to 9.07 million RSF



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