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July 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 | 11.38 | 3.71 | 15.09 | 8.1 % | 2.96 % |
| Midtown South Manhattan Office Class A | 0.78 | 0.03 | 0.81 | 10.7 % | 12.47 % |
| Downtown Manhattan Office Class A | 2.11 | 1.72 | 3.83 | 6.2 % | 7.22 % |
| Total Manhattan Office Class A | 14.27 | 5.46 | 19.74 | 7.8 % | 4.18 % |
| 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 | 22.99 | 10.63 | 33.62 | 14.89 % | 2.96 % |
| Midtown South Manhattan Office Class A | 1.91 | 0.27 | 2.17 | 13.88 % abc | 12.47 % |
| Downtown Manhattan Office Class A | 12.07 | 2.37 | 14.44 | 18.02 % | -0.19 % |
| Total Manhattan Office Class A | 36.96 | 13.27 | 50.23 | % | 1.49 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 18.91 million RSF to 19.74 million RSF
- Total Manhattan Office Market vacancies increased from 31.92 million RSF to 32.71 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 15.87 | 4.1 | 19.96 | 7.2 % | 2.11 % |
| Midtown South Manhattan Office | 5.55 | 0.85 | 6.41 | 7.4 % | 1.92 % |
| Downtown Manhattan Office | 4.46 | 1.88 | 6.33 | 7.1 % | 3.82 % |
| Total Manhattan Office | 25.88 | 6.83 | 32.71 | 7.2 % | 2.4 % |
| 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 | 31.3 | 12.41 | 43.7 | 13.26 % | 2.11 % |
| Midtown South Manhattan Office | 10.1 | 2.45 | 12.55 | 12.06 % abc | 1.92 % |
| Downtown Manhattan Office | 16.81 | 2.9 | 19.7 | 16.57 % | 0.21 % |
| Total Manhattan Office | 58.2 | 17.75 | 75.95 | % | 1.25 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 25.46 million RSF to 25.88 million RSF.
- Manhattan Office Sublease vacancy increased from 6.46 million RSF to 6.83 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.92 million RSF to 32.71 million RSF.
- Total Midtown Office vacancy increased from 19.54 million RSF to 19.96 million RSF.
- Total Midtown South Office vacancy increased from 6.28 million RSF to 6.41 million RSF.
- Total Downtown Office vacancy increased from 6.09 million RSF to 6.33 million RSF.
