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May 2014 » Market Analysis » New York Office Report

April 2014

May 2014 New York City Real Estate Graphs and Statistics

Page 7

June 2014

May 7, 2014

NYC Office Space Graphs and Statistics

	Direct	Sublease	Total	% Vacant	% Monthly Change
NEW YORK CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet)
Midtown Manhattan Office Class A	14.02	1.89	15.92	8.6 %	-3.34 %
Midtown South Manhattan Office Class A	0.85	0.05	0.89	8.3 %	-0.67 %
Downtown Manhattan Office Class A	7.76	0.55	8.31	14.0 %	1.54 %
Total Manhattan Office Class A	22.63	2.49	25.12	10.0 %	-1.63 %
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	22.87	4.8	27.67	11.94 %	-3.34 %
Midtown South Manhattan Office Class A	0.89	0.11	1.0	6.58 % abc	-0.67 %
Downtown Manhattan Office Class A	12.96	1.0	13.96	16.07 %	-5.21 %
Total Manhattan Office Class A	36.71	5.91	42.63	%	-1.94 %

Manhattan Class A Office Vacancies

Total Manhattan Office Class A vacancies decreased from 25.53 million RSF to 25.12 million RSF.
Total Manhattan Office Market vacancies increased from 37.1 million RSF to 37.27 million RSF

	Direct	Sublease	Total	% Vacant	% Monthly Change
NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
Midtown Manhattan Office	18.65	2.17	20.82	7.8 %	-2.01 %
Midtown South Manhattan Office	5.7	0.39	6.08	7.7 %	8.25 %
Downtown Manhattan Office	9.57	0.79	10.37	12.2 %	0.91 %
Total Manhattan Office	33.92	3.36	37.27	8.6 %	0.47 %
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	29.84	5.78	35.62	10.76 %	-2.01 %
Midtown South Manhattan Office	9.4	1.16	10.57	9.96 % abc	8.25 %
Downtown Manhattan Office	15.77	1.43	17.2	13.33 %	-3.68 %
Total Manhattan Office	55.02	8.37	63.39	%	0.05 %

Manhattan Office Vacancy Market

Total Manhattan Office direct lease vacancy increased from 33.62 million RSF to 33.92 million RSF.
Manhattan Office Sublease vacancy decreased from 3.47 million RSF to 3.36 million RSF.

Manhattan Office Rent Vacancy by Area

Total Manhattan Office Market vacancy increased from 37.1 million RSF to 37.27 million RSF.
Total Midtown Office vacancy decreased from 21.24 million RSF to 20.82 million RSF
Total Midtown South Office vacancy increased from 5.58 million RSF to 6.08 million RSF.
Total Downtown Office vacancy increased from 10.27 million RSF to 10.37 million RSF.

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