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April 2013 » 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 | 13.33 | 2.87 | 16.2 | 8.9 % | 0.97 % |
| Midtown South Manhattan Office Class A | 0.45 | 0.02 | 0.47 | 7.4 % | 0.0 % |
| Downtown Manhattan Office Class A | 4.71 | 0.53 | 5.24 | 8.5 % | 5.46 % |
| Total Manhattan Office Class A | 18.49 | 3.41 | 21.9 | 8.7 % | 2.02 % |
| 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 | 23.04 | 6.11 | 29.16 | 12.82 % | 0.97 % |
| Midtown South Manhattan Office Class A | 1.22 | 0.04 | 1.26 | 8.52 % abc | 0.0 % |
| Downtown Manhattan Office Class A | 15.12 | 1.15 | 16.27 | 18.6 % | 0.19 % |
| Total Manhattan Office Class A | 39.38 | 7.31 | 46.69 | % | 0.23 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.46 million RSF to 21.9 million RSF
- Total Manhattan Office Market vacancies increased from 32.71 million RSF to 33.48 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.72 | 3.37 | 21.09 | 7.8 % | 0.01 % |
| Midtown South Manhattan Office | 4.6 | 0.35 | 4.95 | 6.0 % | 6.53 % |
| Downtown Manhattan Office | 6.64 | 0.81 | 7.45 | 7.5 % | 6.02 % |
| Total Manhattan Office | 28.96 | 4.52 | 33.48 | 7.4 % | 2.31 % |
| 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 | 30.4 | 7.31 | 37.71 | 11.48 % | 0.01 % |
| Midtown South Manhattan Office | 8.68 | 1.26 | 9.94 | 9.44 % abc | 6.53 % |
| Downtown Manhattan Office | 18.6 | 1.76 | 20.36 | 15.42 % | -0.1 % |
| Total Manhattan Office | 57.68 | 10.33 | 68.01 | % | 0.45 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.94 million RSF to 28.96 million RSF.
- Manhattan Office Sublease vacancy decreased from 4.77 million RSF to 4.52 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.71 million RSF to 33.48 million RSF.
- Total Midtown Office vacancy increased from 21.09 million RSF to 21.09 million RSF.
- Total Midtown South Office vacancy increased from 4.62 million RSF to 4.95 million RSF.
- Total Downtown Office vacancy increased from 7.0 million RSF to 7.45 million RSF.
