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October 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 | 13.58 | 1.98 | 15.56 | 8.3 % | 1.25 % |
| Midtown South Manhattan Office Class A | 0.44 | 0.1 | 0.55 | 4.6 % | 2.74 % |
| Downtown Manhattan Office Class A | 6.13 | 0.47 | 6.59 | 11.6 % | -1.09 % |
| Total Manhattan Office Class A | 20.15 | 2.55 | 22.7 | 9.0 % | 0.61 % |
| 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 | 21.16 | 4.54 | 25.69 | 11.21 % | 1.25 % |
| Midtown South Manhattan Office Class A | 0.59 | 0.12 | 0.71 | 4.61 % abc | 2.74 % |
| Downtown Manhattan Office Class A | 11.52 | 1.19 | 12.72 | 14.55 % | 1.75 % |
| Total Manhattan Office Class A | 33.27 | 5.85 | 39.12 | % | 1.27 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.56 million RSF to 22.7 million RSF
- Total Manhattan Office Market vacancies increased from 33.79 million RSF to 34.18 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.68 | 2.35 | 20.03 | 7.5 % | 1.43 % |
| Midtown South Manhattan Office | 5.02 | 0.52 | 5.54 | 6.7 % | 2.22 % |
| Downtown Manhattan Office | 7.91 | 0.7 | 8.61 | 9.8 % | -0.28 % |
| Total Manhattan Office | 30.61 | 3.57 | 34.18 | 7.8 % | 1.13 % |
| 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 | 27.77 | 5.79 | 33.56 | 10.2 % | 1.43 % |
| Midtown South Manhattan Office | 8.63 | 1.2 | 9.83 | 9.26 % abc | 2.22 % |
| Downtown Manhattan Office | 14.27 | 1.56 | 15.82 | 12.25 % | 0.57 % |
| Total Manhattan Office | 50.67 | 8.54 | 59.22 | % | 1.12 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 30.56 million RSF to 30.61 million RSF.
- Manhattan Office Sublease vacancy increased from 3.23 million RSF to 3.57 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.79 million RSF to 34.18 million RSF.
- Total Midtown Office vacancy increased from 19.75 million RSF to 20.03 million RSF.
- Total Midtown South Office vacancy increased from 5.42 million RSF to 5.54 million RSF.
- Total Downtown Office vacancy decreased from 8.63 million RSF to 8.61 million RSF
