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June 2015

June 2015 » Market Analysis » New York Office Report

June 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 12.16 1.79 13.96 8.6 % -5.03 %
Midtown South Manhattan Office Class A 0.33 0.02 0.35 2.8 % -8.96 %
Downtown Manhattan Office Class A 7.63 0.4 8.03 12.5 % -1.02 %
Total Manhattan Office Class A 20.12 2.21 22.33 9.3 % -3.65 %
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 21.72 4.46 26.19 11.04 % -5.03 %
Midtown South Manhattan Office Class A 0.5 0.06 0.56 3.64 % abc -8.96 %
Downtown Manhattan Office Class A 12.56 1.16 13.72 15.27 % -1.19 %
Total Manhattan Office Class A 34.78 5.68 40.47 % -1.0 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.14 million RSF to 22.33 million RSF.
  • Total Manhattan Office Market vacancies decreased from 33.39 million RSF to 32.11 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 15.83 2.12 17.96 7.6 % -4.69 %
Midtown South Manhattan Office 4.18 0.3 4.47 5.8 % -7.78 %
Downtown Manhattan Office 9.19 0.49 9.68 12.3 % -0.92 %
Total Manhattan Office 29.2 2.91 32.11 7.9 % -3.98 %
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 28.46 5.72 34.19 10.12 % -4.69 %
Midtown South Manhattan Office 7.85 1.09 8.94 8.49 % abc -7.78 %
Downtown Manhattan Office 15.09 1.4 16.49 12.7 % -1.12 %
Total Manhattan Office 51.4 8.22 59.62 % -0.77 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 30.26 million RSF to 29.2 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.14 million RSF to 2.91 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.39 million RSF to 32.11 million RSF
  • Total Midtown Office vacancy decreased from 18.8 million RSF to 17.96 million RSF
  • Total Midtown South Office vacancy decreased from 4.82 million RSF to 4.47 million RSF
  • Total Downtown Office vacancy decreased from 9.77 million RSF to 9.68 million RSF



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