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December 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 | 12.95 | 3.44 | 16.39 | 8.8 % | 2.22 % |
| Midtown South Manhattan Office Class A | 0.96 | 0.07 | 1.03 | 9.5 % | 6.32 % |
| Downtown Manhattan Office Class A | 2.84 | 1.5 | 4.33 | 6.8 % | -2.86 % |
| Total Manhattan Office Class A | 16.75 | 5.0 | 21.75 | 8.3 % | 1.4 % |
| 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 | 23.54 | 9.61 | 33.15 | 14.69 % | 2.22 % |
| Midtown South Manhattan Office Class A | 2.02 | 0.41 | 2.43 | 15.88 % abc | 6.32 % |
| Downtown Manhattan Office Class A | 12.73 | 2.38 | 15.11 | 18.73 % | -0.42 % |
| Total Manhattan Office Class A | 38.29 | 12.39 | 50.69 | % | 0.22 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.45 million RSF to 21.75 million RSF
- Total Manhattan Office Market vacancies increased from 34.41 million RSF to 34.89 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.89 | 3.82 | 21.71 | 7.8 % | 2.34 % |
| Midtown South Manhattan Office | 6.06 | 0.78 | 6.84 | 7.6 % | 0.75 % |
| Downtown Manhattan Office | 4.64 | 1.7 | 6.34 | 7.0 % | -1.29 % |
| Total Manhattan Office | 28.59 | 6.3 | 34.89 | 7.6 % | 1.36 % |
| 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 | 32.5 | 11.38 | 43.89 | 13.22 % | 2.34 % |
| Midtown South Manhattan Office | 10.65 | 2.41 | 13.06 | 12.22 % abc | 0.75 % |
| Downtown Manhattan Office | 16.92 | 2.87 | 19.79 | 16.7 % | -0.34 % |
| Total Manhattan Office | 60.07 | 16.66 | 76.73 | % | 0.62 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.98 million RSF to 28.59 million RSF.
- Manhattan Office Sublease vacancy decreased from 6.43 million RSF to 6.3 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 34.41 million RSF to 34.89 million RSF.
- Total Midtown Office vacancy increased from 21.21 million RSF to 21.71 million RSF.
- Total Midtown South Office vacancy increased from 6.79 million RSF to 6.84 million RSF.
- Total Downtown Office vacancy decreased from 6.42 million RSF to 6.34 million RSF
