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November 2013 » Market Analysis » New York Office Report
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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 | 14.23 | 2.88 | 17.12 | 9.3 % | -1.36 % |
| Midtown South Manhattan Office Class A | 0.93 | 0.02 | 0.95 | 9.3 % | -5.49 % |
| Downtown Manhattan Office Class A | 6.74 | 0.5 | 7.25 | 10.6 % | -2.61 % |
| Total Manhattan Office Class A | 21.91 | 3.4 | 25.31 | 9.6 % | -1.87 % |
| 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 | 23.49 | 5.6 | 29.09 | 12.6 % | -1.36 % |
| Midtown South Manhattan Office Class A | 1.2 | 0.02 | 1.22 | 8.2 % abc | -5.49 % |
| Downtown Manhattan Office Class A | 14.31 | 1.44 | 15.75 | 18.18 % | -1.98 % |
| Total Manhattan Office Class A | 39.0 | 7.06 | 46.06 | % | -1.73 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 25.78 million RSF to 25.31 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.64 million RSF to 37.19 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.45 | 3.23 | 21.68 | 8.2 % | -2.04 % |
| Midtown South Manhattan Office | 5.88 | 0.31 | 6.19 | 7.2 % | 1.7 % |
| Downtown Manhattan Office | 8.53 | 0.79 | 9.31 | 9.1 % | -1.2 % |
| Total Manhattan Office | 32.86 | 4.33 | 37.19 | 8.2 % | -1.21 % |
| 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 | 30.27 | 6.49 | 36.76 | 11.14 % | -2.04 % |
| Midtown South Manhattan Office | 9.39 | 1.2 | 10.59 | 10.07 % abc | 1.7 % |
| Downtown Manhattan Office | 17.5 | 1.96 | 19.46 | 15.07 % | -1.06 % |
| Total Manhattan Office | 57.16 | 9.64 | 66.8 | % | -0.51 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.52 million RSF to 32.86 million RSF.
- Manhattan Office Sublease vacancy increased from 4.12 million RSF to 4.33 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.63 million RSF to 37.19 million RSF
- Total Midtown Office vacancy decreased from 22.12 million RSF to 21.68 million RSF
- Total Midtown South Office vacancy increased from 6.09 million RSF to 6.19 million RSF.
- Total Downtown Office vacancy decreased from 9.42 million RSF to 9.31 million RSF
