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June 2014

June 2014 » Market Analysis » New York Office Report

June 2014 New York Real Estate 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 14.39 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



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