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August 2012 » 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 | 12.72 | 2.86 | 15.59 | 9.0 % | -1.46 % |
| Midtown South Manhattan Office Class A | 0.84 | 0.04 | 0.89 | 8.5 % | 47.86 % |
| Downtown Manhattan Office Class A | 4.22 | 0.39 | 4.62 | 8.2 % | 3.9 % |
| Total Manhattan Office Class A | 17.79 | 3.29 | 21.09 | 8.8 % | 1.79 % |
| 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 | 21.83 | 6.43 | 28.27 | 12.53 % | -1.46 % |
| Midtown South Manhattan Office Class A | 1.69 | 0.14 | 1.84 | 12.06 % abc | 47.86 % |
| Downtown Manhattan Office Class A | 16.3 | 1.29 | 17.59 | 19.48 % | -0.57 % |
| Total Manhattan Office Class A | 39.82 | 7.87 | 47.69 | % | -1.74 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 20.71 million RSF to 21.09 million RSF
- Total Manhattan Office Market vacancies increased from 31.21 million RSF to 31.54 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.4 | 3.24 | 20.64 | 8.0 % | -1.23 % |
| Midtown South Manhattan Office | 3.83 | 0.29 | 4.12 | 5.1 % | 8.52 % |
| Downtown Manhattan Office | 6.03 | 0.75 | 6.78 | 7.4 % | 3.31 % |
| Total Manhattan Office | 27.26 | 4.27 | 31.54 | 7.3 % | 1.02 % |
| 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 | 30.17 | 7.75 | 37.92 | 11.43 % | -1.23 % |
| Midtown South Manhattan Office | 7.47 | 1.14 | 8.61 | 8.19 % abc | 8.52 % |
| Downtown Manhattan Office | 19.7 | 1.91 | 21.61 | 16.04 % | -1.07 % |
| Total Manhattan Office | 57.33 | 10.8 | 68.14 | % | -1.77 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 27.3 million RSF to 27.26 million RSF.
- Manhattan Office Sublease vacancy increased from 3.91 million RSF to 4.27 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.21 million RSF to 31.54 million RSF.
- Total Midtown Office vacancy decreased from 20.89 million RSF to 20.64 million RSF
- Total Midtown South Office vacancy increased from 3.77 million RSF to 4.12 million RSF.
- Total Downtown Office vacancy increased from 6.55 million RSF to 6.78 million RSF.
