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July 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 | 14.24 | 1.78 | 16.02 | 8.7 % | -1.39 % |
| Midtown South Manhattan Office Class A | 0.82 | 0.08 | 0.9 | 6.9 % | 1.22 % |
| Downtown Manhattan Office Class A | 6.72 | 0.42 | 7.14 | 13.7 % | -8.09 % |
| Total Manhattan Office Class A | 21.78 | 2.28 | 24.06 | 9.9 % | -3.28 % |
| 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 | 22.18 | 4.43 | 26.6 | 11.6 % | -1.39 % |
| Midtown South Manhattan Office Class A | 0.84 | 0.08 | 0.92 | 5.98 % abc | 1.22 % |
| Downtown Manhattan Office Class A | 11.94 | 1.01 | 12.95 | 14.88 % | -1.29 % |
| Total Manhattan Office Class A | 34.96 | 5.52 | 40.48 | % | -2.87 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 24.85 million RSF to 24.06 million RSF.
- Total Manhattan Office Market vacancies decreased from 36.84 million RSF to 35.88 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.78 | 2.16 | 20.95 | 7.8 % | -0.8 % |
| Midtown South Manhattan Office | 5.34 | 0.52 | 5.86 | 7.0 % | -2.64 % |
| Downtown Manhattan Office | 8.42 | 0.65 | 9.07 | 11.0 % | -7.01 % |
| Total Manhattan Office | 32.55 | 3.34 | 35.88 | 8.4 % | -2.67 % |
| 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 | 29.12 | 5.65 | 34.76 | 10.55 % | -0.8 % |
| Midtown South Manhattan Office | 8.96 | 1.11 | 10.08 | 9.5 % abc | -2.64 % |
| Downtown Manhattan Office | 14.7 | 1.49 | 16.19 | 12.52 % | -0.68 % |
| Total Manhattan Office | 52.79 | 8.25 | 61.04 | % | -1.86 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.4 million RSF to 32.55 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.44 million RSF to 3.34 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 36.84 million RSF to 35.88 million RSF
- Total Midtown Office vacancy decreased from 21.11 million RSF to 20.95 million RSF
- Total Midtown South Office vacancy decreased from 6.02 million RSF to 5.86 million RSF
- Total Downtown Office vacancy decreased from 9.71 million RSF to 9.07 million RSF
