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May 2013 » 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 | 13.29 | 2.82 | 16.11 | 8.8 % | -0.54 % |
| Midtown South Manhattan Office Class A | 0.59 | 0.02 | 0.61 | 7.1 % | 23.48 % |
| Downtown Manhattan Office Class A | 4.7 | 0.59 | 5.29 | 8.3 % | 1.0 % |
| Total Manhattan Office Class A | 18.57 | 3.43 | 22.01 | 8.6 % | 0.5 % |
| 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 | 23.42 | 6.44 | 29.86 | 13.07 % | -0.54 % |
| Midtown South Manhattan Office Class A | 1.22 | 0.02 | 1.24 | 8.46 % abc | 23.48 % |
| Downtown Manhattan Office Class A | 15.12 | 1.36 | 16.48 | 18.82 % | 1.32 % |
| Total Manhattan Office Class A | 39.76 | 7.82 | 47.58 | % | 1.88 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.9 million RSF to 22.01 million RSF
- Total Manhattan Office Market vacancies increased from 33.48 million RSF to 33.94 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.87 | 3.3 | 21.17 | 7.9 % | 0.41 % |
| Midtown South Manhattan Office | 4.88 | 0.35 | 5.22 | 6.1 % | 5.3 % |
| Downtown Manhattan Office | 6.69 | 0.86 | 7.54 | 7.5 % | 1.29 % |
| Total Manhattan Office | 29.44 | 4.5 | 33.94 | 7.4 % | 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 | 31.03 | 7.55 | 38.57 | 11.71 % | 0.41 % |
| Midtown South Manhattan Office | 8.68 | 1.28 | 9.96 | 9.47 % abc | 5.3 % |
| Downtown Manhattan Office | 18.71 | 2.0 | 20.71 | 15.66 % | 1.7 % |
| Total Manhattan Office | 58.42 | 10.82 | 69.25 | % | 1.78 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 28.96 million RSF to 29.44 million RSF.
- Manhattan Office Sublease vacancy decreased from 4.52 million RSF to 4.5 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.48 million RSF to 33.94 million RSF.
- Total Midtown Office vacancy increased from 21.09 million RSF to 21.17 million RSF.
- Total Midtown South Office vacancy increased from 4.95 million RSF to 5.22 million RSF.
- Total Downtown Office vacancy increased from 7.45 million RSF to 7.54 million RSF.
