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August 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 | 12.15 | 3.91 | 16.06 | 8.6 % | 6.04 % |
| Midtown South Manhattan Office Class A | 0.67 | 0.03 | 0.71 | 10.0 % | -14.89 % |
| Downtown Manhattan Office Class A | 2.05 | 1.65 | 3.7 | 6.1 % | -3.62 % |
| Total Manhattan Office Class A | 14.88 | 5.59 | 20.47 | 8.1 % | 3.57 % |
| 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 | 22.98 | 10.5 | 33.48 | 15.04 % | 6.04 % |
| Midtown South Manhattan Office Class A | 1.98 | 0.24 | 2.22 | 14.41 % abc | -14.89 % |
| Downtown Manhattan Office Class A | 11.86 | 2.38 | 14.24 | 17.69 % | -1.41 % |
| Total Manhattan Office Class A | 36.83 | 13.11 | 49.94 | % | -0.59 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 19.74 million RSF to 20.47 million RSF
- Total Manhattan Office Market vacancies increased from 32.71 million RSF to 33.76 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.66 | 4.31 | 20.97 | 7.5 % | 4.81 % |
| Midtown South Manhattan Office | 5.7 | 0.84 | 6.54 | 7.6 % | 2.11 % |
| Downtown Manhattan Office | 4.44 | 1.8 | 6.24 | 7.0 % | -1.52 % |
| Total Manhattan Office | 26.81 | 6.95 | 33.76 | 7.4 % | 3.12 % |
| 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 | 31.51 | 12.41 | 43.92 | 13.36 % | 4.81 % |
| Midtown South Manhattan Office | 10.71 | 2.41 | 13.12 | 12.52 % abc | 2.11 % |
| Downtown Manhattan Office | 16.53 | 2.96 | 19.49 | 16.35 % | -1.1 % |
| Total Manhattan Office | 58.75 | 17.78 | 76.53 | % | 0.75 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 25.88 million RSF to 26.81 million RSF.
- Manhattan Office Sublease vacancy increased from 6.83 million RSF to 6.95 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.71 million RSF to 33.76 million RSF.
- Total Midtown Office vacancy increased from 19.96 million RSF to 20.97 million RSF.
- Total Midtown South Office vacancy increased from 6.41 million RSF to 6.54 million RSF.
- Total Downtown Office vacancy decreased from 6.33 million RSF to 6.24 million RSF
