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November 2013

November 2013 » Market Analysis » New York Office Report

November 2013 NY Real Estate Office 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 14.23 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



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