market research

September 2015

September 2015 » Market Analysis » New York Office Report

September 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 12.84 1.56 14.4 8.7 % 0.3 %
Midtown South Manhattan Office Class A 0.26 0.09 0.35 2.8 % -2.88 %
Downtown Manhattan Office Class A 7.49 0.34 7.83 12.0 % 0.49 %
Total Manhattan Office Class A 20.58 1.99 22.57 9.3 % 0.31 %
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 23.52 3.84 27.35 11.5 % 0.3 %
Midtown South Manhattan Office Class A 0.4 0.22 0.62 3.98 % abc -2.88 %
Downtown Manhattan Office Class A 11.84 1.11 12.95 14.45 % -1.05 %
Total Manhattan Office Class A 35.75 5.16 40.91 % -1.1 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.5 million RSF to 22.57 million RSF
  • Total Manhattan Office Market vacancies increased from 32.76 million RSF to 32.8 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.43 2.0 18.43 7.6 % -0.12 %
Midtown South Manhattan Office 4.44 0.39 4.83 6.2 % 3.17 %
Downtown Manhattan Office 9.07 0.46 9.53 10.1 % -1.03 %
Total Manhattan Office 29.94 2.86 32.8 7.9 % 0.1 %
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 30.27 5.13 35.4 10.47 % -0.12 %
Midtown South Manhattan Office 7.64 1.17 8.81 8.4 % abc 3.17 %
Downtown Manhattan Office 14.28 1.37 15.65 12.15 % -1.76 %
Total Manhattan Office 52.19 7.67 59.86 % -1.55 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.8 million RSF to 29.94 million RSF.
  • Manhattan Office Sublease vacancy decreased from 2.97 million RSF to 2.86 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.76 million RSF to 32.8 million RSF.
  • Total Midtown Office vacancy decreased from 18.45 million RSF to 18.43 million RSF
  • Total Midtown South Office vacancy increased from 4.68 million RSF to 4.83 million RSF.
  • Total Downtown Office vacancy decreased from 9.63 million RSF to 9.53 million RSF



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building