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June 2014 » 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 | 14.39 | 1.85 | 16.24 | 8.7 % | 2.01 % |
| Midtown South Manhattan Office Class A | 0.81 | 0.08 | 0.89 | 8.3 % | -0.56 % |
| Downtown Manhattan Office Class A | 7.13 | 0.59 | 7.72 | 13.9 % | -7.65 % |
| Total Manhattan Office Class A | 22.33 | 2.53 | 24.85 | 10.0 % | -1.09 % |
| 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 | 22.85 | 4.73 | 27.58 | 11.95 % | 2.01 % |
| Midtown South Manhattan Office Class A | 0.84 | 0.1 | 0.94 | 6.21 % abc | -0.56 % |
| Downtown Manhattan Office Class A | 12.1 | 1.02 | 13.12 | 15.14 % | -6.37 % |
| Total Manhattan Office Class A | 35.79 | 5.85 | 41.64 | % | -2.37 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 25.12 million RSF to 24.85 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.27 million RSF to 36.84 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.91 | 2.21 | 21.11 | 7.9 % | 1.37 % |
| Midtown South Manhattan Office | 5.61 | 0.41 | 6.02 | 7.5 % | -1.11 % |
| Downtown Manhattan Office | 8.89 | 0.82 | 9.71 | 11.2 % | -6.74 % |
| Total Manhattan Office | 33.4 | 3.44 | 36.84 | 8.6 % | -1.17 % |
| 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 | 29.79 | 5.75 | 35.54 | 10.76 % | 1.37 % |
| Midtown South Manhattan Office | 9.18 | 1.15 | 10.33 | 9.76 % abc | -1.11 % |
| Downtown Manhattan Office | 14.84 | 1.46 | 16.3 | 12.66 % | -5.48 % |
| Total Manhattan Office | 53.81 | 8.36 | 62.17 | % | -1.96 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.92 million RSF to 33.4 million RSF.
- Manhattan Office Sublease vacancy increased from 3.36 million RSF to 3.44 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.27 million RSF to 36.84 million RSF
- Total Midtown Office vacancy increased from 20.82 million RSF to 21.11 million RSF.
- Total Midtown South Office vacancy decreased from 6.08 million RSF to 6.02 million RSF
- Total Downtown Office vacancy decreased from 10.37 million RSF to 9.71 million RSF
