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September 2014 » 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 | 13.56 | 1.81 | 15.36 | 8.6 % | -6.84 % |
| Midtown South Manhattan Office Class A | 0.44 | 0.1 | 0.53 | 4.9 % | -34.77 % |
| Downtown Manhattan Office Class A | 6.25 | 0.41 | 6.67 | 13.3 % | -1.58 % |
| Total Manhattan Office Class A | 20.24 | 2.32 | 22.56 | 9.6 % | -5.94 % |
| 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 | 21.25 | 4.3 | 25.55 | 11.15 % | -6.84 % |
| Midtown South Manhattan Office Class A | 0.46 | 0.12 | 0.58 | 3.78 % abc | -34.77 % |
| Downtown Manhattan Office Class A | 11.42 | 1.07 | 12.49 | 14.33 % | -0.71 % |
| Total Manhattan Office Class A | 33.14 | 5.49 | 38.62 | % | -3.09 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.9 million RSF to 22.56 million RSF.
- Total Manhattan Office Market vacancies decreased from 35.69 million RSF to 33.79 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.63 | 2.12 | 19.75 | 7.7 % | -6.3 % |
| Midtown South Manhattan Office | 4.93 | 0.49 | 5.42 | 6.8 % | -9.25 % |
| Downtown Manhattan Office | 8.0 | 0.63 | 8.63 | 10.9 % | -1.75 % |
| Total Manhattan Office | 30.56 | 3.23 | 33.79 | 8.2 % | -5.61 % |
| 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 | 27.68 | 5.54 | 33.22 | 10.1 % | -6.3 % |
| Midtown South Manhattan Office | 8.53 | 1.06 | 9.6 | 9.05 % abc | -9.25 % |
| Downtown Manhattan Office | 14.23 | 1.5 | 15.73 | 12.19 % | -0.9 % |
| Total Manhattan Office | 50.45 | 8.1 | 58.55 | % | -2.9 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.12 million RSF to 30.56 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.57 million RSF to 3.23 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 35.69 million RSF to 33.79 million RSF
- Total Midtown Office vacancy decreased from 20.99 million RSF to 19.75 million RSF
- Total Midtown South Office vacancy decreased from 5.92 million RSF to 5.42 million RSF
- Total Downtown Office vacancy decreased from 8.78 million RSF to 8.63 million RSF
