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June 2013 » Market Analysis » New York Office Report
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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 | 13.3 | 2.7 | 15.99 | 8.9 % | -0.72 % |
| Midtown South Manhattan Office Class A | 0.56 | 0.02 | 0.58 | 7.0 % | -5.36 % |
| Downtown Manhattan Office Class A | 4.76 | 0.55 | 5.31 | 7.9 % | 0.38 % |
| Total Manhattan Office Class A | 18.62 | 3.26 | 21.88 | 8.5 % | -0.58 % |
| 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 | 23.1 | 6.05 | 29.15 | 12.75 % | -0.72 % |
| Midtown South Manhattan Office Class A | 1.16 | 0.02 | 1.18 | 8.0 % abc | -5.36 % |
| Downtown Manhattan Office Class A | 15.37 | 1.38 | 16.75 | 19.04 % | 1.59 % |
| Total Manhattan Office Class A | 39.62 | 7.45 | 47.07 | % | -1.08 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 22.01 million RSF to 21.88 million RSF.
- Total Manhattan Office Market vacancies increased from 33.94 million RSF to 34.09 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.84 | 3.21 | 21.05 | 7.9 % | -0.56 % |
| Midtown South Manhattan Office | 5.13 | 0.42 | 5.54 | 6.4 % | 5.76 % |
| Downtown Manhattan Office | 6.66 | 0.83 | 7.49 | 7.1 % | -0.75 % |
| Total Manhattan Office | 29.63 | 4.46 | 34.09 | 7.5 % | 0.43 % |
| 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 | 30.71 | 7.2 | 37.91 | 11.5 % | -0.56 % |
| Midtown South Manhattan Office | 8.73 | 1.13 | 9.86 | 9.4 % abc | 5.76 % |
| Downtown Manhattan Office | 18.92 | 1.99 | 20.91 | 15.7 % | 0.96 % |
| Total Manhattan Office | 58.36 | 10.31 | 68.68 | % | -0.83 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.44 million RSF to 29.63 million RSF.
- Manhattan Office Sublease vacancy decreased from 4.5 million RSF to 4.46 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.94 million RSF to 34.09 million RSF.
- Total Midtown Office vacancy decreased from 21.17 million RSF to 21.05 million RSF
- Total Midtown South Office vacancy increased from 5.22 million RSF to 5.54 million RSF.
- Total Downtown Office vacancy decreased from 7.54 million RSF to 7.49 million RSF
