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May 2015 » 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 | 12.69 | 1.97 | 14.66 | 8.7 % | -3.27 % |
| Midtown South Manhattan Office Class A | 0.36 | 0.02 | 0.38 | 2.9 % | -2.92 % |
| Downtown Manhattan Office Class A | 7.67 | 0.43 | 8.11 | 12.6 % | 1.0 % |
| Total Manhattan Office Class A | 20.72 | 2.42 | 23.14 | 9.5 % | -1.77 % |
| 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 | 21.83 | 4.57 | 26.39 | 11.27 % | -3.27 % |
| Midtown South Manhattan Office Class A | 0.54 | 0.06 | 0.6 | 3.87 % abc | -2.92 % |
| Downtown Manhattan Office Class A | 12.69 | 1.2 | 13.88 | 15.44 % | 0.55 % |
| Total Manhattan Office Class A | 35.05 | 5.82 | 40.87 | % | 0.5 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 23.55 million RSF to 23.14 million RSF.
- Total Manhattan Office Market vacancies decreased from 34.03 million RSF to 33.39 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.48 | 2.31 | 18.8 | 7.7 % | -2.98 % |
| Midtown South Manhattan Office | 4.54 | 0.28 | 4.82 | 5.9 % | -2.43 % |
| Downtown Manhattan Office | 9.22 | 0.54 | 9.77 | 10.6 % | 0.38 % |
| Total Manhattan Office | 30.26 | 3.14 | 33.39 | 8.0 % | -1.92 % |
| 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 | 28.6 | 5.85 | 34.45 | 10.3 % | -2.98 % |
| Midtown South Manhattan Office | 7.94 | 1.01 | 8.96 | 8.52 % abc | -2.43 % |
| Downtown Manhattan Office | 15.19 | 1.48 | 16.67 | 12.83 % | 0.34 % |
| Total Manhattan Office | 51.73 | 8.35 | 60.08 | % | -0.02 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 30.92 million RSF to 30.26 million RSF.
- Manhattan Office Sublease vacancy increased from 3.11 million RSF to 3.14 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 34.03 million RSF to 33.39 million RSF
- Total Midtown Office vacancy decreased from 19.36 million RSF to 18.8 million RSF
- Total Midtown South Office vacancy decreased from 4.94 million RSF to 4.82 million RSF
- Total Downtown Office vacancy increased from 9.73 million RSF to 9.77 million RSF.
