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August 2015 » 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 | 12.71 | 1.65 | 14.36 | 8.7 % | -0.65 % |
| Midtown South Manhattan Office Class A | 0.27 | 0.09 | 0.36 | 3.1 % | 13.73 % |
| Downtown Manhattan Office Class A | 7.49 | 0.29 | 7.79 | 12.5 % | -3.02 % |
| Total Manhattan Office Class A | 20.46 | 2.04 | 22.5 | 9.4 % | -1.24 % |
| 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 | 23.41 | 4.25 | 27.66 | 11.58 % | -0.65 % |
| Midtown South Manhattan Office Class A | 0.43 | 0.19 | 0.62 | 4.02 % abc | 13.73 % |
| Downtown Manhattan Office Class A | 12.01 | 1.07 | 13.08 | 14.62 % | -3.28 % |
| Total Manhattan Office Class A | 35.85 | 5.51 | 41.36 | % | -1.6 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 22.78 million RSF to 22.5 million RSF.
- Total Manhattan Office Market vacancies increased from 32.42 million RSF to 32.76 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.35 | 2.11 | 18.45 | 7.7 % | 1.67 % |
| Midtown South Manhattan Office | 4.24 | 0.43 | 4.68 | 6.0 % | 5.28 % |
| Downtown Manhattan Office | 9.21 | 0.42 | 9.63 | 10.5 % | -2.17 % |
| Total Manhattan Office | 29.8 | 2.97 | 32.76 | 8.0 % | 1.06 % |
| 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 | 30.31 | 5.52 | 35.84 | 10.56 % | 1.67 % |
| Midtown South Manhattan Office | 7.71 | 1.31 | 9.02 | 8.59 % abc | 5.28 % |
| Downtown Manhattan Office | 14.59 | 1.34 | 15.93 | 12.36 % | -2.82 % |
| Total Manhattan Office | 52.61 | 8.18 | 60.79 | % | -1.34 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.59 million RSF to 29.8 million RSF.
- Manhattan Office Sublease vacancy increased from 2.83 million RSF to 2.97 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.42 million RSF to 32.76 million RSF.
- Total Midtown Office vacancy increased from 18.15 million RSF to 18.45 million RSF.
- Total Midtown South Office vacancy increased from 4.43 million RSF to 4.68 million RSF.
- Total Downtown Office vacancy decreased from 9.84 million RSF to 9.63 million RSF
