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August 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 | 12.88 | 2.05 | 14.93 | 9.1 % | 1.49 % |
| Midtown South Manhattan Office Class A | 0.51 | 0.07 | 0.58 | 7.5 % | -51.55 % |
| Downtown Manhattan Office Class A | 4.69 | 0.39 | 5.09 | 9.7 % | -7.12 % |
| Total Manhattan Office Class A | 18.08 | 2.51 | 20.6 | 9.2 % | -2.13 % |
| 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 | 19.81 | 6.34 | 26.15 | 11.77 % | 1.49 % |
| Midtown South Manhattan Office Class A | 1.5 | 0.09 | 1.59 | 10.62 % abc | -51.55 % |
| Downtown Manhattan Office Class A | 15.9 | 1.11 | 17.02 | 19.12 % | 4.0 % |
| Total Manhattan Office Class A | 37.21 | 7.54 | 44.76 | % | -0.1 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 21.04 million RSF to 20.6 million RSF.
- Total Manhattan Office Market vacancies increased from 33.39 million RSF to 33.67 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.95 | 2.31 | 20.27 | 8.2 % | 3.41 % |
| Midtown South Manhattan Office | 5.21 | 0.4 | 5.6 | 6.9 % | -0.37 % |
| Downtown Manhattan Office | 7.25 | 0.56 | 7.8 | 8.6 % | -4.96 % |
| Total Manhattan Office | 30.41 | 3.27 | 33.67 | 8.0 % | 0.84 % |
| 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 | 28.95 | 7.63 | 36.59 | 11.29 % | 3.41 % |
| Midtown South Manhattan Office | 8.55 | 0.95 | 9.5 | 9.14 % abc | -0.37 % |
| Downtown Manhattan Office | 20.42 | 1.7 | 22.11 | 16.5 % | 3.21 % |
| Total Manhattan Office | 57.92 | 10.28 | 68.2 | % | 1.16 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 30.15 million RSF to 30.41 million RSF.
- Manhattan Office Sublease vacancy increased from 3.24 million RSF to 3.27 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.39 million RSF to 33.67 million RSF.
- Total Midtown Office vacancy increased from 19.57 million RSF to 20.27 million RSF.
- Total Midtown South Office vacancy decreased from 5.62 million RSF to 5.6 million RSF
- Total Downtown Office vacancy decreased from 8.19 million RSF to 7.8 million RSF
