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March 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 | 14.18 | 2.06 | 16.24 | 8.8 % | -1.18 % |
| Midtown South Manhattan Office Class A | 0.84 | 0.03 | 0.87 | 8.9 % | -6.81 % |
| Downtown Manhattan Office Class A | 7.31 | 0.51 | 7.82 | 12.7 % | -3.36 % |
| Total Manhattan Office Class A | 22.33 | 2.6 | 24.93 | 9.8 % | -2.06 % |
| 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 | 25.22 | 4.63 | 29.85 | 12.86 % | -1.18 % |
| Midtown South Manhattan Office Class A | 0.94 | 0.07 | 1.01 | 6.66 % abc | -6.81 % |
| Downtown Manhattan Office Class A | 13.34 | 1.14 | 14.48 | 16.48 % | 0.17 % |
| Total Manhattan Office Class A | 39.5 | 5.83 | 45.33 | % | 3.96 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 25.44 million RSF to 24.93 million RSF.
- Total Manhattan Office Market vacancies decreased from 37.09 million RSF to 36.59 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.71 | 2.34 | 21.05 | 7.9 % | -0.8 % |
| Midtown South Manhattan Office | 5.33 | 0.43 | 5.75 | 7.2 % | -0.5 % |
| Downtown Manhattan Office | 9.05 | 0.74 | 9.79 | 10.4 % | -3.08 % |
| Total Manhattan Office | 33.08 | 3.51 | 36.59 | 8.3 % | -1.36 % |
| 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 | 32.15 | 5.48 | 37.63 | 11.36 % | -0.8 % |
| Midtown South Manhattan Office | 8.42 | 1.22 | 9.64 | 9.17 % abc | -0.5 % |
| Downtown Manhattan Office | 15.97 | 1.58 | 17.55 | 13.5 % | -0.87 % |
| Total Manhattan Office | 56.54 | 8.29 | 64.83 | % | 2.16 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 33.43 million RSF to 33.08 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.65 million RSF to 3.51 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 37.09 million RSF to 36.59 million RSF
- Total Midtown Office vacancy decreased from 21.22 million RSF to 21.05 million RSF
- Total Midtown South Office vacancy decreased from 5.78 million RSF to 5.75 million RSF
- Total Downtown Office vacancy decreased from 10.09 million RSF to 9.79 million RSF
