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November 2014 » 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 | 13.57 | 2.06 | 15.63 | 8.3 % | 0.45 % |
| Midtown South Manhattan Office Class A | 0.44 | 0.09 | 0.54 | 4.3 % | -2.24 % |
| Downtown Manhattan Office Class A | 5.53 | 0.46 | 5.98 | 10.9 % | -10.2 % |
| Total Manhattan Office Class A | 19.55 | 2.6 | 22.15 | 8.8 % | -2.49 % |
| 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 | 20.2 | 4.42 | 24.61 | 10.78 % | 0.45 % |
| Midtown South Manhattan Office Class A | 0.59 | 0.11 | 0.7 | 4.53 % abc | -2.24 % |
| Downtown Manhattan Office Class A | 11.42 | 1.08 | 12.5 | 14.2 % | -1.73 % |
| Total Manhattan Office Class A | 32.21 | 5.61 | 37.81 | % | -3.46 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 22.7 million RSF to 22.15 million RSF.
- Total Manhattan Office Market vacancies decreased from 34.18 million RSF to 33.34 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.52 | 2.44 | 19.96 | 7.5 % | -0.38 % |
| Midtown South Manhattan Office | 4.86 | 0.53 | 5.39 | 6.5 % | -2.76 % |
| Downtown Manhattan Office | 7.3 | 0.69 | 7.99 | 9.3 % | -7.67 % |
| Total Manhattan Office | 29.67 | 3.67 | 33.34 | 7.7 % | -2.51 % |
| 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 | 27.38 | 5.65 | 33.03 | 10.03 % | -0.38 % |
| Midtown South Manhattan Office | 8.34 | 1.23 | 9.57 | 9.03 % abc | -2.76 % |
| Downtown Manhattan Office | 14.2 | 1.46 | 15.66 | 12.06 % | -1.05 % |
| Total Manhattan Office | 49.92 | 8.34 | 58.26 | % | -1.63 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 30.61 million RSF to 29.67 million RSF.
- Manhattan Office Sublease vacancy increased from 3.57 million RSF to 3.67 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 34.18 million RSF to 33.34 million RSF
- Total Midtown Office vacancy decreased from 20.03 million RSF to 19.96 million RSF
- Total Midtown South Office vacancy decreased from 5.54 million RSF to 5.39 million RSF
- Total Downtown Office vacancy decreased from 8.61 million RSF to 7.99 million RSF
