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May 2014

May 2014 » Market Analysis » New York Office Report

May 2014 New York City 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 14.02 1.89 15.92 8.6 % -3.34 %
Midtown South Manhattan Office Class A 0.85 0.05 0.89 8.3 % -0.67 %
Downtown Manhattan Office Class A 7.76 0.55 8.31 14.0 % 1.54 %
Total Manhattan Office Class A 22.63 2.49 25.12 10.0 % -1.63 %
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 22.87 4.8 27.67 11.94 % -3.34 %
Midtown South Manhattan Office Class A 0.89 0.11 1.0 6.58 % abc -0.67 %
Downtown Manhattan Office Class A 12.96 1.0 13.96 16.07 % -5.21 %
Total Manhattan Office Class A 36.71 5.91 42.63 % -1.94 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 25.53 million RSF to 25.12 million RSF.
  • Total Manhattan Office Market vacancies increased from 37.1 million RSF to 37.27 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.65 2.17 20.82 7.8 % -2.01 %
Midtown South Manhattan Office 5.7 0.39 6.08 7.7 % 8.25 %
Downtown Manhattan Office 9.57 0.79 10.37 12.2 % 0.91 %
Total Manhattan Office 33.92 3.36 37.27 8.6 % 0.47 %
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 29.84 5.78 35.62 10.76 % -2.01 %
Midtown South Manhattan Office 9.4 1.16 10.57 9.96 % abc 8.25 %
Downtown Manhattan Office 15.77 1.43 17.2 13.33 % -3.68 %
Total Manhattan Office 55.02 8.37 63.39 % 0.05 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 33.62 million RSF to 33.92 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.47 million RSF to 3.36 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 37.1 million RSF to 37.27 million RSF.
  • Total Midtown Office vacancy decreased from 21.24 million RSF to 20.82 million RSF
  • Total Midtown South Office vacancy increased from 5.58 million RSF to 6.08 million RSF.
  • Total Downtown Office vacancy increased from 10.27 million RSF to 10.37 million RSF.



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