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October 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 | 13.16 | 1.64 | 14.8 | 8.8 % | 2.69 % |
| Midtown South Manhattan Office Class A | 0.22 | 0.09 | 0.31 | 2.8 % | -11.58 % |
| Downtown Manhattan Office Class A | 7.3 | 0.29 | 7.59 | 10.8 % | -3.04 % |
| Total Manhattan Office Class A | 20.68 | 2.02 | 22.7 | 9.0 % | 0.58 % |
| 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 | 24.22 | 4.08 | 28.3 | 11.87 % | 2.69 % |
| Midtown South Manhattan Office Class A | 0.36 | 0.22 | 0.58 | 3.73 % abc | -11.58 % |
| Downtown Manhattan Office Class A | 11.67 | 1.15 | 12.82 | 14.29 % | -1.01 % |
| Total Manhattan Office Class A | 36.25 | 5.45 | 41.7 | % | 1.89 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.57 million RSF to 22.7 million RSF
- Total Manhattan Office Market vacancies increased from 32.8 million RSF to 33.52 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.11 | 2.3 | 19.41 | 7.9 % | 5.05 % |
| Midtown South Manhattan Office | 4.35 | 0.41 | 4.76 | 6.1 % | -1.56 % |
| Downtown Manhattan Office | 8.95 | 0.41 | 9.36 | 9.4 % | -1.9 % |
| Total Manhattan Office | 30.4 | 3.12 | 33.52 | 7.9 % | 2.17 % |
| 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 | 31.12 | 5.35 | 36.47 | 10.78 % | 5.05 % |
| Midtown South Manhattan Office | 7.55 | 1.18 | 8.73 | 8.32 % abc | -1.56 % |
| Downtown Manhattan Office | 14.21 | 1.35 | 15.56 | 12.13 % | -0.6 % |
| Total Manhattan Office | 52.88 | 7.88 | 60.76 | % | 1.48 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.94 million RSF to 30.4 million RSF.
- Manhattan Office Sublease vacancy increased from 2.86 million RSF to 3.12 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.8 million RSF to 33.52 million RSF.
- Total Midtown Office vacancy increased from 18.43 million RSF to 19.41 million RSF.
- Total Midtown South Office vacancy decreased from 4.83 million RSF to 4.76 million RSF
- Total Downtown Office vacancy decreased from 9.53 million RSF to 9.36 million RSF
