market research

June 2015

June 2015 » Market Analysis » New York Office Report

July 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 12.81 1.64 14.45 8.5 % 3.43 %
Midtown South Manhattan Office Class A 0.3 0.01 0.31 2.7 % -12.34 %
Downtown Manhattan Office Class A 7.63 0.39 8.02 12.5 % -0.04 %
Total Manhattan Office Class A 20.75 2.04 22.78 9.3 % 1.99 %
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 23.76 4.19 27.95 11.69 % 3.43 %
Midtown South Manhattan Office Class A 0.46 0.11 0.57 3.69 % abc -12.34 %
Downtown Manhattan Office Class A 12.35 1.16 13.51 15.08 % -1.55 %
Total Manhattan Office Class A 36.58 5.45 42.02 % 3.71 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.33 million RSF to 22.78 million RSF
  • Total Manhattan Office Market vacancies increased from 32.11 million RSF to 32.42 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.12 2.03 18.15 7.5 % 1.05 %
Midtown South Manhattan Office 4.14 0.29 4.43 5.8 % -1.02 %
Downtown Manhattan Office 9.34 0.5 9.84 10.4 % 1.63 %
Total Manhattan Office 29.59 2.83 32.42 7.9 % 0.94 %
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 30.64 5.51 36.15 10.63 % 1.05 %
Midtown South Manhattan Office 7.91 1.17 9.07 8.58 % abc -1.02 %
Downtown Manhattan Office 14.95 1.42 16.38 12.66 % -0.69 %
Total Manhattan Office 53.5 8.1 61.6 % 3.22 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.2 million RSF to 29.59 million RSF.
  • Manhattan Office Sublease vacancy decreased from 2.91 million RSF to 2.83 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.11 million RSF to 32.42 million RSF.
  • Total Midtown Office vacancy increased from 17.96 million RSF to 18.15 million RSF.
  • Total Midtown South Office vacancy decreased from 4.47 million RSF to 4.43 million RSF
  • Total Downtown Office vacancy increased from 9.68 million RSF to 9.84 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