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October 2014

October 2014 » Market Analysis » New York Office Report

October 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 13.58 1.98 15.56 8.3 % 1.25 %
Midtown South Manhattan Office Class A 0.44 0.1 0.55 4.6 % 2.74 %
Downtown Manhattan Office Class A 6.13 0.47 6.59 11.6 % -1.09 %
Total Manhattan Office Class A 20.15 2.55 22.7 9.0 % 0.61 %
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 21.16 4.54 25.69 11.21 % 1.25 %
Midtown South Manhattan Office Class A 0.59 0.12 0.71 4.61 % abc 2.74 %
Downtown Manhattan Office Class A 11.52 1.19 12.72 14.55 % 1.75 %
Total Manhattan Office Class A 33.27 5.85 39.12 % 1.27 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.56 million RSF to 22.7 million RSF
  • Total Manhattan Office Market vacancies increased from 33.79 million RSF to 34.18 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.68 2.35 20.03 7.5 % 1.43 %
Midtown South Manhattan Office 5.02 0.52 5.54 6.7 % 2.22 %
Downtown Manhattan Office 7.91 0.7 8.61 9.8 % -0.28 %
Total Manhattan Office 30.61 3.57 34.18 7.8 % 1.13 %
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 27.77 5.79 33.56 10.2 % 1.43 %
Midtown South Manhattan Office 8.63 1.2 9.83 9.26 % abc 2.22 %
Downtown Manhattan Office 14.27 1.56 15.82 12.25 % 0.57 %
Total Manhattan Office 50.67 8.54 59.22 % 1.12 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.56 million RSF to 30.61 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.23 million RSF to 3.57 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.79 million RSF to 34.18 million RSF.
  • Total Midtown Office vacancy increased from 19.75 million RSF to 20.03 million RSF.
  • Total Midtown South Office vacancy increased from 5.42 million RSF to 5.54 million RSF.
  • Total Downtown Office vacancy decreased from 8.63 million RSF to 8.61 million RSF



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