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February 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 | 14.09 | 2.34 | 16.43 | 9.0 % | -5.03 % |
| Midtown South Manhattan Office Class A | 0.9 | 0.03 | 0.93 | 8.6 % | -1.4 % |
| Downtown Manhattan Office Class A | 7.56 | 0.52 | 8.08 | 12.8 % | -5.83 % |
| Total Manhattan Office Class A | 22.55 | 2.89 | 25.44 | 9.9 % | -5.15 % |
| 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 | 22.93 | 5.1 | 28.03 | 12.18 % | -5.03 % |
| Midtown South Manhattan Office Class A | 0.99 | 0.06 | 1.05 | 6.92 % abc | -1.4 % |
| Downtown Manhattan Office Class A | 13.3 | 1.15 | 14.46 | 16.5 % | -4.65 % |
| Total Manhattan Office Class A | 37.23 | 6.31 | 43.53 | % | -1.14 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 26.75 million RSF to 25.44 million RSF.
- Total Manhattan Office Market vacancies decreased from 38.58 million RSF to 37.09 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.61 | 2.6 | 21.22 | 8.0 % | -3.74 % |
| Midtown South Manhattan Office | 5.48 | 0.3 | 5.78 | 7.1 % | -1.78 % |
| Downtown Manhattan Office | 9.34 | 0.75 | 10.09 | 10.5 % | -5.88 % |
| Total Manhattan Office | 33.43 | 3.65 | 37.09 | 8.4 % | -4.02 % |
| 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 | 29.82 | 5.82 | 35.64 | 10.82 % | -3.74 % |
| Midtown South Manhattan Office | 8.81 | 1.26 | 10.08 | 9.56 % abc | -1.78 % |
| Downtown Manhattan Office | 16.12 | 1.58 | 17.71 | 13.64 % | -4.76 % |
| Total Manhattan Office | 54.75 | 8.67 | 63.42 | % | -0.9 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 34.73 million RSF to 33.43 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.85 million RSF to 3.65 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 38.58 million RSF to 37.09 million RSF
- Total Midtown Office vacancy decreased from 22.01 million RSF to 21.22 million RSF
- Total Midtown South Office vacancy decreased from 5.89 million RSF to 5.78 million RSF
- Total Downtown Office vacancy decreased from 10.68 million RSF to 10.09 million RSF
