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May 2015

May 2015 » Market Analysis » New York Office Report

May 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 12.69 1.97 14.66 8.7 % -3.27 %
Midtown South Manhattan Office Class A 0.36 0.02 0.38 2.9 % -2.92 %
Downtown Manhattan Office Class A 7.67 0.43 8.11 12.6 % 1.0 %
Total Manhattan Office Class A 20.72 2.42 23.14 9.5 % -1.77 %
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 21.83 4.57 26.39 11.27 % -3.27 %
Midtown South Manhattan Office Class A 0.54 0.06 0.6 3.87 % abc -2.92 %
Downtown Manhattan Office Class A 12.69 1.2 13.88 15.44 % 0.55 %
Total Manhattan Office Class A 35.05 5.82 40.87 % 0.5 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.55 million RSF to 23.14 million RSF.
  • Total Manhattan Office Market vacancies decreased from 34.03 million RSF to 33.39 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.48 2.31 18.8 7.7 % -2.98 %
Midtown South Manhattan Office 4.54 0.28 4.82 5.9 % -2.43 %
Downtown Manhattan Office 9.22 0.54 9.77 10.6 % 0.38 %
Total Manhattan Office 30.26 3.14 33.39 8.0 % -1.92 %
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 28.6 5.85 34.45 10.3 % -2.98 %
Midtown South Manhattan Office 7.94 1.01 8.96 8.52 % abc -2.43 %
Downtown Manhattan Office 15.19 1.48 16.67 12.83 % 0.34 %
Total Manhattan Office 51.73 8.35 60.08 % -0.02 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 30.92 million RSF to 30.26 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.11 million RSF to 3.14 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 34.03 million RSF to 33.39 million RSF
  • Total Midtown Office vacancy decreased from 19.36 million RSF to 18.8 million RSF
  • Total Midtown South Office vacancy decreased from 4.94 million RSF to 4.82 million RSF
  • Total Downtown Office vacancy increased from 9.73 million RSF to 9.77 million RSF.



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