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September 2014

September 2014 » Market Analysis » New York Office Report

September 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 13.56 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



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