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April 2011 » 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 | 13.66 | 1.92 | 15.58 | 8.9 % | -0.73 % |
| Midtown South Manhattan Office Class A | 0.79 | 0.09 | 0.88 | 11.0 % | 0.0 % |
| Downtown Manhattan Office Class A | 5.71 | 0.73 | 6.44 | 9.3 % | 1.75 % |
| Total Manhattan Office Class A | 20.17 | 2.74 | 22.91 | 9.1 % | -0.0 % |
| 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 | 21.68 | 6.57 | 28.25 | 12.61 % | -0.73 % |
| Midtown South Manhattan Office Class A | 1.41 | 0.17 | 1.57 | 10.49 % abc | 0.0 % |
| Downtown Manhattan Office Class A | 15.23 | 1.39 | 16.63 | 18.61 % | 1.24 % |
| Total Manhattan Office Class A | 38.32 | 8.13 | 46.45 | % | -0.98 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies stayed at 22.91 million RSF.
- Total Manhattan Office Market vacancies decreased from 35.93 million RSF to 35.77 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.46 | 2.14 | 20.6 | 8.0 % | -1.64 % |
| Midtown South Manhattan Office | 5.48 | 0.47 | 5.95 | 7.4 % | -4.2 % |
| Downtown Manhattan Office | 8.39 | 0.84 | 9.22 | 7.6 % | 4.68 % |
| Total Manhattan Office | 32.33 | 3.45 | 35.77 | 8.0 % | -0.44 % |
| 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 | 30.62 | 7.71 | 38.33 | 11.77 % | -1.64 % |
| Midtown South Manhattan Office | 8.73 | 1.28 | 10.0 | 9.56 % abc | -4.2 % |
| Downtown Manhattan Office | 19.85 | 1.78 | 21.62 | 16.17 % | 2.2 % |
| Total Manhattan Office | 59.19 | 10.77 | 69.96 | % | -0.55 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.43 million RSF to 32.33 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.5 million RSF to 3.45 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 35.93 million RSF to 35.77 million RSF
- Total Midtown Office vacancy decreased from 20.94 million RSF to 20.6 million RSF
- Total Midtown South Office vacancy decreased from 6.2 million RSF to 5.95 million RSF
- Total Downtown Office vacancy increased from 8.79 million RSF to 9.22 million RSF.
