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March 2015

March 2015 » Market Analysis » New York Office Report

March 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 13.25 1.82 15.07 8.7 % -3.04 %
Midtown South Manhattan Office Class A 0.41 0.03 0.44 3.9 % -9.86 %
Downtown Manhattan Office Class A 7.55 0.46 8.01 12.8 % -6.61 %
Total Manhattan Office Class A 21.21 2.3 23.52 9.5 % -4.38 %
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 21.69 4.91 26.6 11.38 % -3.04 %
Midtown South Manhattan Office Class A 0.58 0.03 0.61 3.92 % abc -9.86 %
Downtown Manhattan Office Class A 12.66 0.9 13.56 15.04 % 0.33 %
Total Manhattan Office Class A 34.93 5.84 40.77 % -0.4 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.55 million RSF to 23.51 million RSF.
  • Total Manhattan Office Market vacancies decreased from 34.99 million RSF to 33.84 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.19 2.19 19.38 7.6 % -2.06 %
Midtown South Manhattan Office 4.41 0.36 4.77 6.1 % -1.05 %
Downtown Manhattan Office 9.1 0.6 9.7 10.6 % -7.23 %
Total Manhattan Office 30.69 3.15 33.84 8.0 % -3.4 %
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 28.45 6.25 34.7 10.39 % -2.06 %
Midtown South Manhattan Office 7.92 0.98 8.9 8.39 % abc -1.05 %
Downtown Manhattan Office 15.24 1.19 16.44 12.58 % -0.39 %
Total Manhattan Office 51.62 8.42 60.04 % -0.39 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 31.43 million RSF to 30.69 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.57 million RSF to 3.15 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 34.99 million RSF to 33.84 million RSF
  • Total Midtown Office vacancy decreased from 19.78 million RSF to 19.38 million RSF
  • Total Midtown South Office vacancy decreased from 4.82 million RSF to 4.77 million RSF
  • Total Downtown Office vacancy decreased from 10.4 million RSF to 9.7 million RSF



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