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December 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 | 12.74 | 1.95 | 14.69 | 8.2 % | -6.44 % |
| Midtown South Manhattan Office Class A | 0.41 | 0.08 | 0.49 | 4.4 % | -8.08 % |
| Downtown Manhattan Office Class A | 6.47 | 0.51 | 6.99 | 12.4 % | 14.37 % |
| Total Manhattan Office Class A | 19.62 | 2.54 | 22.17 | 9.1 % | 0.09 % |
| 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 | 20.29 | 5.11 | 25.4 | 11.04 % | -6.44 % |
| Midtown South Manhattan Office Class A | 0.57 | 0.11 | 0.68 | 4.4 % abc | -8.08 % |
| Downtown Manhattan Office Class A | 11.06 | 1.07 | 12.13 | 13.53 % | -3.03 % |
| Total Manhattan Office Class A | 31.92 | 6.29 | 38.21 | % | 1.05 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.15 million RSF to 22.17 million RSF
- Total Manhattan Office Market vacancies decreased from 33.34 million RSF to 32.89 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.54 | 2.27 | 18.81 | 7.3 % | -6.12 % |
| Midtown South Manhattan Office | 4.7 | 0.46 | 5.16 | 6.5 % | -4.48 % |
| Downtown Manhattan Office | 8.18 | 0.74 | 8.92 | 10.5 % | 10.4 % |
| Total Manhattan Office | 29.42 | 3.46 | 32.89 | 7.9 % | -1.38 % |
| 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 | 26.72 | 6.39 | 33.12 | 10.03 % | -6.12 % |
| Midtown South Manhattan Office | 8.44 | 1.21 | 9.64 | 9.07 % abc | -4.48 % |
| Downtown Manhattan Office | 13.8 | 1.41 | 15.21 | 11.7 % | -2.99 % |
| Total Manhattan Office | 48.96 | 9.01 | 57.97 | % | -0.52 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 29.67 million RSF to 29.42 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.67 million RSF to 3.46 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 33.34 million RSF to 32.89 million RSF
- Total Midtown Office vacancy decreased from 19.96 million RSF to 18.81 million RSF
- Total Midtown South Office vacancy decreased from 5.39 million RSF to 5.16 million RSF
- Total Downtown Office vacancy increased from 7.99 million RSF to 8.92 million RSF.
