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November 2015

November 2015 » Market Analysis » New York Office Report

November 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 13.17 1.56 14.73 8.8 % -0.45 %
Midtown South Manhattan Office Class A 0.21 0.08 0.29 2.6 % -6.87 %
Downtown Manhattan Office Class A 7.54 0.31 7.85 11.8 % 3.24 %
Total Manhattan Office Class A 20.92 1.95 22.87 9.3 % 0.73 %
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 24.64 3.91 28.55 11.84 % -0.45 %
Midtown South Manhattan Office Class A 0.34 0.19 0.53 3.42 % abc -6.87 %
Downtown Manhattan Office Class A 11.76 1.2 12.96 14.5 % 1.14 %
Total Manhattan Office Class A 36.74 5.3 42.04 % 0.81 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.7 million RSF to 22.87 million RSF
  • Total Manhattan Office Market vacancies decreased from 33.52 million RSF to 33.42 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.05 2.18 19.23 7.9 % -0.96 %
Midtown South Manhattan Office 4.21 0.4 4.61 5.8 % -3.12 %
Downtown Manhattan Office 9.14 0.43 9.58 10.0 % 2.3 %
Total Manhattan Office 30.41 3.01 33.42 8.0 % -0.33 %
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 31.4 5.16 36.56 10.79 % -0.96 %
Midtown South Manhattan Office 7.5 1.21 8.71 8.32 % abc -3.12 %
Downtown Manhattan Office 14.49 1.43 15.92 12.41 % 2.27 %
Total Manhattan Office 53.4 7.79 61.19 % 0.7 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.4 million RSF to 30.41 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.12 million RSF to 3.01 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.52 million RSF to 33.42 million RSF
  • Total Midtown Office vacancy decreased from 19.41 million RSF to 19.23 million RSF
  • Total Midtown South Office vacancy decreased from 4.76 million RSF to 4.61 million RSF
  • Total Downtown Office vacancy increased from 9.36 million RSF to 9.58 million RSF.



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