market research

June 2013

June 2013 » Market Analysis » New York Office Report

June 2013 NY 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 13.3 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



  • 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