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May 2013

May 2013 » Market Analysis » New York Office Report

May 2013 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 13.29 2.82 16.11 8.8 % -0.54 %
Midtown South Manhattan Office Class A 0.59 0.02 0.61 7.1 % 23.48 %
Downtown Manhattan Office Class A 4.7 0.59 5.29 8.3 % 1.0 %
Total Manhattan Office Class A 18.57 3.43 22.01 8.6 % 0.5 %
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 23.42 6.44 29.86 13.07 % -0.54 %
Midtown South Manhattan Office Class A 1.22 0.02 1.24 8.46 % abc 23.48 %
Downtown Manhattan Office Class A 15.12 1.36 16.48 18.82 % 1.32 %
Total Manhattan Office Class A 39.76 7.82 47.58 % 1.88 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.9 million RSF to 22.01 million RSF
  • Total Manhattan Office Market vacancies increased from 33.48 million RSF to 33.94 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.87 3.3 21.17 7.9 % 0.41 %
Midtown South Manhattan Office 4.88 0.35 5.22 6.1 % 5.3 %
Downtown Manhattan Office 6.69 0.86 7.54 7.5 % 1.29 %
Total Manhattan Office 29.44 4.5 33.94 7.4 % 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 31.03 7.55 38.57 11.71 % 0.41 %
Midtown South Manhattan Office 8.68 1.28 9.96 9.47 % abc 5.3 %
Downtown Manhattan Office 18.71 2.0 20.71 15.66 % 1.7 %
Total Manhattan Office 58.42 10.82 69.25 % 1.78 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 28.96 million RSF to 29.44 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.52 million RSF to 4.5 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.48 million RSF to 33.94 million RSF.
  • Total Midtown Office vacancy increased from 21.09 million RSF to 21.17 million RSF.
  • Total Midtown South Office vacancy increased from 4.95 million RSF to 5.22 million RSF.
  • Total Downtown Office vacancy increased from 7.45 million RSF to 7.54 million RSF.



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