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October 2013

October 2013 » Market Analysis » New York Office Report

October 2013 NYC Real Estate 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 14.78 2.57 17.35 9.3 % 10.04 %
Midtown South Manhattan Office Class A 0.98 0.02 1.0 9.7 % 12.31 %
Downtown Manhattan Office Class A 6.93 0.5 7.43 11.1 % 32.08 %
Total Manhattan Office Class A 22.7 3.08 25.78 9.7 % 16.48 %
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 23.77 5.75 29.52 12.84 % 10.04 %
Midtown South Manhattan Office Class A 1.25 0.03 1.27 8.61 % abc 12.31 %
Downtown Manhattan Office Class A 14.52 1.54 16.06 18.61 % -2.52 %
Total Manhattan Office Class A 39.54 7.32 46.85 % 0.09 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.53 million RSF to 25.78 million RSF
  • Total Manhattan Office Market vacancies increased from 32.61 million RSF to 37.64 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.09 3.04 22.12 8.2 % 8.3 %
Midtown South Manhattan Office 5.78 0.3 6.09 7.1 % -0.05 %
Downtown Manhattan Office 8.64 0.78 9.42 9.2 % 33.85 %
Total Manhattan Office 33.52 4.12 37.63 8.2 % 13.35 %
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 30.58 6.76 37.33 11.36 % 8.3 %
Midtown South Manhattan Office 9.0 1.14 10.14 9.65 % abc -0.05 %
Downtown Manhattan Office 17.62 2.04 19.66 15.22 % -1.76 %
Total Manhattan Office 57.2 9.94 67.14 % -0.41 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.29 million RSF to 33.52 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.32 million RSF to 4.12 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.61 million RSF to 37.63 million RSF.
  • Total Midtown Office vacancy increased from 20.29 million RSF to 22.12 million RSF.
  • Total Midtown South Office vacancy decreased from 6.09 million RSF to 6.09 million RSF
  • Total Downtown Office vacancy increased from 6.23 million RSF to 9.42 million RSF.



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