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November 2014

November 2014 » Market Analysis » New York Office Report

November 2014 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 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



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