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September 2013 » Market Analysis » New York Office Report
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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 | 13.1 | 2.51 | 15.61 | 8.4 % | -1.51 % |
| Midtown South Manhattan Office Class A | 0.86 | 0.02 | 0.88 | 9.9 % | 37.9 % |
| Downtown Manhattan Office Class A | 4.53 | 0.52 | 5.05 | 7.7 % | 0.65 % |
| Total Manhattan Office Class A | 18.49 | 3.04 | 21.53 | 8.3 % | 0.6 % |
| 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 | 23.42 | 5.86 | 29.27 | 12.75 % | -1.51 % |
| Midtown South Manhattan Office Class A | 1.05 | 0.03 | 1.07 | 7.3 % abc | 37.9 % |
| Downtown Manhattan Office Class A | 15.03 | 1.43 | 16.46 | 18.48 % | -0.77 % |
| Total Manhattan Office Class A | 39.5 | 7.31 | 46.81 | % | -0.46 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.4 million RSF to 21.53 million RSF
- Total Manhattan Office Market vacancies decreased from 33.41 million RSF to 32.61 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.36 | 2.93 | 20.29 | 7.6 % | -1.41 % |
| Midtown South Manhattan Office | 5.78 | 0.31 | 6.09 | 7.1 % | 7.91 % |
| Downtown Manhattan Office | 6.15 | 0.08 | 6.23 | 7.0 % | -15.85 % |
| Total Manhattan Office | 29.29 | 3.32 | 32.61 | 7.4 % | -2.43 % |
| 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 | 30.44 | 6.91 | 37.35 | 11.35 % | -1.41 % |
| Midtown South Manhattan Office | 8.94 | 1.11 | 10.05 | 9.58 % abc | 7.91 % |
| Downtown Manhattan Office | 18.1 | 1.91 | 20.01 | 15.01 % | -3.55 % |
| Total Manhattan Office | 57.48 | 9.93 | 67.41 | % | -1.02 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.03 million RSF to 29.29 million RSF.
- Manhattan Office Sublease vacancy decreased from 4.37 million RSF to 3.32 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 33.41 million RSF to 32.61 million RSF
- Total Midtown Office vacancy decreased from 20.57 million RSF to 20.29 million RSF
- Total Midtown South Office vacancy increased from 5.61 million RSF to 6.09 million RSF.
- Total Downtown Office vacancy decreased from 7.22 million RSF to 6.23 million RSF
