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March 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 | 10.45 | 3.72 | 14.17 | 7.4 % | 1.06 % |
| Midtown South Manhattan Office Class A | 1.03 | 0.04 | 1.07 | 10.7 % | -0.65 % |
| Downtown Manhattan Office Class A | 2.1 | 1.56 | 3.67 | 6.2 % | -7.39 % |
| Total Manhattan Office Class A | 13.59 | 5.32 | 18.91 | 7.3 % | -0.68 % |
| 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 | 21.26 | 8.68 | 29.94 | 13.41 % | 1.06 % |
| Midtown South Manhattan Office Class A | 1.35 | 0.3 | 1.65 | 11.26 % abc | -0.65 % |
| Downtown Manhattan Office Class A | 11.73 | 2.28 | 14.01 | 17.54 % | -0.51 % |
| Total Manhattan Office Class A | 34.34 | 11.26 | 45.6 | % | 2.42 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 19.04 million RSF to 18.91 million RSF.
- Total Manhattan Office Market vacancies decreased from 32.17 million RSF to 31.32 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 14.8 | 4.26 | 19.06 | 6.9 % | 1.03 % |
| Midtown South Manhattan Office | 5.36 | 0.76 | 6.12 | 7.1 % | -1.01 % |
| Downtown Manhattan Office | 4.35 | 1.79 | 6.14 | 7.0 % | -16.03 % |
| Total Manhattan Office | 24.51 | 6.81 | 31.32 | 7.0 % | -2.71 % |
| 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 | 28.36 | 10.39 | 38.75 | 11.86 % | 1.03 % |
| Midtown South Manhattan Office | 8.67 | 2.13 | 10.8 | 10.62 % abc | -1.01 % |
| Downtown Manhattan Office | 16.25 | 2.73 | 18.98 | 16.02 % | 0.35 % |
| Total Manhattan Office | 53.28 | 15.25 | 68.53 | % | 3.48 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 24.41 million RSF to 24.51 million RSF.
- Manhattan Office Sublease vacancy decreased from 7.76 million RSF to 6.81 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 32.17 million RSF to 31.32 million RSF
- Total Midtown Office vacancy increased from 18.87 million RSF to 19.06 million RSF.
- Total Midtown South Office vacancy decreased from 6.18 million RSF to 6.12 million RSF
- Total Downtown Office vacancy decreased from 7.12 million RSF to 6.14 million RSF
