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April 2009 » 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 | 10.76 | 3.65 | 14.41 | 7.6 % | 1.66 % |
| Midtown South Manhattan Office Class A | 0.73 | 0.04 | 0.77 | 10.5 % | -39.22 % |
| Downtown Manhattan Office Class A | 2.17 | 1.52 | 3.69 | 6.1 % | 0.7 % |
| Total Manhattan Office Class A | 13.66 | 5.21 | 18.87 | 7.4 % | -0.2 % |
| 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 | 22.25 | 9.61 | 31.86 | 14.17 % | 1.66 % |
| Midtown South Manhattan Office Class A | 1.36 | 0.33 | 1.69 | 11.26 % abc | -39.22 % |
| Downtown Manhattan Office Class A | 11.8 | 2.25 | 14.05 | 17.59 % | 0.31 % |
| Total Manhattan Office Class A | 35.41 | 12.19 | 47.6 | % | 4.2 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 18.91 million RSF to 18.87 million RSF.
- Total Manhattan Office Market vacancies decreased from 31.32 million RSF to 31.3 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 15.18 | 4.02 | 19.2 | 7.0 % | 0.68 % |
| Midtown South Manhattan Office | 5.22 | 0.72 | 5.94 | 7.1 % | -2.98 % |
| Downtown Manhattan Office | 4.4 | 1.75 | 6.16 | 7.0 % | 0.31 % |
| Total Manhattan Office | 24.8 | 6.49 | 31.3 | 7.0 % | -0.09 % |
| 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 | 29.67 | 11.19 | 40.86 | 12.44 % | 0.68 % |
| Midtown South Manhattan Office | 9.01 | 2.34 | 11.35 | 11.06 % abc | -2.98 % |
| Downtown Manhattan Office | 16.35 | 2.7 | 19.05 | 16.06 % | 0.39 % |
| Total Manhattan Office | 55.03 | 16.23 | 71.26 | % | 3.83 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 24.51 million RSF to 24.8 million RSF.
- Manhattan Office Sublease vacancy decreased from 6.81 million RSF to 6.49 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 31.32 million RSF to 31.3 million RSF
- Total Midtown Office vacancy increased from 19.06 million RSF to 19.2 million RSF.
- Total Midtown South Office vacancy decreased from 6.12 million RSF to 5.94 million RSF
- Total Downtown Office vacancy increased from 6.14 million RSF to 6.16 million RSF.
