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October 2015

October 2015 » Market Analysis » New York Office Report

October 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 13.16 1.64 14.8 8.8 % 2.69 %
Midtown South Manhattan Office Class A 0.22 0.09 0.31 2.8 % -11.58 %
Downtown Manhattan Office Class A 7.3 0.29 7.59 10.8 % -3.04 %
Total Manhattan Office Class A 20.68 2.02 22.7 9.0 % 0.58 %
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 24.22 4.08 28.3 11.87 % 2.69 %
Midtown South Manhattan Office Class A 0.36 0.22 0.58 3.73 % abc -11.58 %
Downtown Manhattan Office Class A 11.67 1.15 12.82 14.29 % -1.01 %
Total Manhattan Office Class A 36.25 5.45 41.7 % 1.89 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.57 million RSF to 22.7 million RSF
  • Total Manhattan Office Market vacancies increased from 32.8 million RSF to 33.52 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.11 2.3 19.41 7.9 % 5.05 %
Midtown South Manhattan Office 4.35 0.41 4.76 6.1 % -1.56 %
Downtown Manhattan Office 8.95 0.41 9.36 9.4 % -1.9 %
Total Manhattan Office 30.4 3.12 33.52 7.9 % 2.17 %
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 31.12 5.35 36.47 10.78 % 5.05 %
Midtown South Manhattan Office 7.55 1.18 8.73 8.32 % abc -1.56 %
Downtown Manhattan Office 14.21 1.35 15.56 12.13 % -0.6 %
Total Manhattan Office 52.88 7.88 60.76 % 1.48 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.94 million RSF to 30.4 million RSF.
  • Manhattan Office Sublease vacancy increased from 2.86 million RSF to 3.12 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.8 million RSF to 33.52 million RSF.
  • Total Midtown Office vacancy increased from 18.43 million RSF to 19.41 million RSF.
  • Total Midtown South Office vacancy decreased from 4.83 million RSF to 4.76 million RSF
  • Total Downtown Office vacancy decreased from 9.53 million RSF to 9.36 million RSF



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