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December 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 | 13.62 | 1.65 | 15.27 | 8.7 % | 3.54 % |
| Midtown South Manhattan Office Class A | 0.14 | 0.08 | 0.22 | 2.0 % | -34.1 % |
| Downtown Manhattan Office Class A | 7.41 | 0.29 | 7.7 | 10.9 % | -1.91 % |
| Total Manhattan Office Class A | 21.17 | 2.02 | 23.19 | 9.0 % | 1.38 % |
| 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 | 25.13 | 4.09 | 29.21 | 12.12 % | 3.54 % |
| Midtown South Manhattan Office Class A | 0.0 | 0.0 | 0.0 | -0.0 % abc | -34.1 % |
| Downtown Manhattan Office Class A | 11.04 | 1.23 | 12.26 | 13.8 % | -5.7 % |
| Total Manhattan Office Class A | 36.16 | 5.32 | 41.48 | % | -1.35 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.87 million RSF to 23.19 million RSF
- Total Manhattan Office Market vacancies increased from 33.42 million RSF to 33.8 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.45 | 2.26 | 19.71 | 7.8 % | 2.44 % |
| Midtown South Manhattan Office | 4.32 | 0.45 | 4.76 | 5.9 % | 3.21 % |
| Downtown Manhattan Office | 8.92 | 0.41 | 9.33 | 9.2 % | -2.65 % |
| Total Manhattan Office | 30.7 | 3.11 | 33.8 | 7.8 % | 1.14 % |
| 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 | 31.91 | 5.35 | 37.26 | 212.32 % | 2.44 % |
| Midtown South Manhattan Office | 7.35 | 1.24 | 8.59 | 8.22 % abc | 3.21 % |
| Downtown Manhattan Office | 13.69 | 1.46 | 15.16 | 11.87 % | -5.03 % |
| Total Manhattan Office | 52.95 | 8.06 | 61.0 | % | -0.31 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 30.41 million RSF to 30.7 million RSF.
- Manhattan Office Sublease vacancy increased from 3.01 million RSF to 3.11 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.42 million RSF to 33.8 million RSF.
- Total Midtown Office vacancy increased from 19.23 million RSF to 19.71 million RSF.
- Total Midtown South Office vacancy increased from 4.61 million RSF to 4.76 million RSF.
- Total Downtown Office vacancy decreased from 9.58 million RSF to 9.33 million RSF
