market research

March 2014

March 2014 » Market Analysis » New York Office Report

March 2014 New York 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 14.18 2.06 16.24 8.8 % -1.18 %
Midtown South Manhattan Office Class A 0.84 0.03 0.87 8.9 % -6.81 %
Downtown Manhattan Office Class A 7.31 0.51 7.82 12.7 % -3.36 %
Total Manhattan Office Class A 22.33 2.6 24.93 9.8 % -2.06 %
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 25.22 4.63 29.85 12.86 % -1.18 %
Midtown South Manhattan Office Class A 0.94 0.07 1.01 6.66 % abc -6.81 %
Downtown Manhattan Office Class A 13.34 1.14 14.48 16.48 % 0.17 %
Total Manhattan Office Class A 39.5 5.83 45.33 % 3.96 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.44 million RSF to 24.93 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.09 million RSF to 36.59 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.71 2.34 21.05 7.9 % -0.8 %
Midtown South Manhattan Office 5.33 0.43 5.75 7.2 % -0.5 %
Downtown Manhattan Office 9.05 0.74 9.79 10.4 % -3.08 %
Total Manhattan Office 33.08 3.51 36.59 8.3 % -1.36 %
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 32.15 5.48 37.63 11.36 % -0.8 %
Midtown South Manhattan Office 8.42 1.22 9.64 9.17 % abc -0.5 %
Downtown Manhattan Office 15.97 1.58 17.55 13.5 % -0.87 %
Total Manhattan Office 56.54 8.29 64.83 % 2.16 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 33.43 million RSF to 33.08 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.65 million RSF to 3.51 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.09 million RSF to 36.59 million RSF
  • Total Midtown Office vacancy decreased from 21.22 million RSF to 21.05 million RSF
  • Total Midtown South Office vacancy decreased from 5.78 million RSF to 5.75 million RSF
  • Total Downtown Office vacancy decreased from 10.09 million RSF to 9.79 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
Real Time Analytics