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January 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 | 10.4 | 3.69 | 14.09 | 6.3 % | 14.89 % |
| Midtown South Manhattan Office Class A | 0.91 | 0.03 | 0.95 | 9.7 % | 32.73 % |
| Downtown Manhattan Office Class A | 2.19 | 1.75 | 3.94 | 5.9 % | 6.12 % |
| Total Manhattan Office Class A | 13.51 | 5.47 | 18.98 | 6.4 % | 13.96 % |
| 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 | 20.06 | 7.11 | 27.17 | 12.33 % | 14.89 % |
| Midtown South Manhattan Office Class A | 1.18 | 0.13 | 1.3 | 9.29 % abc | 32.73 % |
| Downtown Manhattan Office Class A | 14.22 | 2.4 | 16.62 | 20.22 % | -0.83 % |
| Total Manhattan Office Class A | 35.46 | 9.64 | 45.1 | % | 2.35 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 16.33 million RSF to 18.98 million RSF
- Total Manhattan Office Market vacancies increased from 27.87 million RSF to 31.34 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 14.49 | 4.18 | 18.67 | 5.9 % | 14.22 % |
| Midtown South Manhattan Office | 5.55 | 0.71 | 6.27 | 7.1 % | 8.36 % |
| Downtown Manhattan Office | 4.39 | 2.01 | 6.41 | 6.6 % | 4.6 % |
| Total Manhattan Office | 24.43 | 6.91 | 31.34 | 6.2 % | 11.08 % |
| 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 | 26.17 | 8.48 | 34.65 | 10.74 % | 14.22 % |
| Midtown South Manhattan Office | 8.07 | 1.63 | 9.7 | 9.68 % abc | 8.36 % |
| Downtown Manhattan Office | 18.56 | 2.86 | 21.42 | 17.69 % | -0.57 % |
| Total Manhattan Office | 52.8 | 12.97 | 65.77 | % | 2.47 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 22.5 million RSF to 24.43 million RSF.
- Manhattan Office Sublease vacancy increased from 5.37 million RSF to 6.91 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 27.87 million RSF to 31.34 million RSF.
- Total Midtown Office vacancy increased from 16.01 million RSF to 18.67 million RSF.
- Total Midtown South Office vacancy increased from 5.75 million RSF to 6.27 million RSF.
- Total Downtown Office vacancy increased from 6.11 million RSF to 6.41 million RSF.
