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March 2011 » 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 | 13.87 | 1.83 | 15.7 | 9.0 % | 0.13 % |
| Midtown South Manhattan Office Class A | 0.79 | 0.09 | 0.88 | 11.0 % | 2.26 % |
| Downtown Manhattan Office Class A | 5.51 | 0.82 | 6.33 | 9.1 % | 0.95 % |
| Total Manhattan Office Class A | 20.17 | 2.74 | 22.91 | 9.1 % | 0.44 % |
| 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 | 22.14 | 6.75 | 28.89 | 12.8 % | 0.13 % |
| Midtown South Manhattan Office Class A | 1.43 | 0.17 | 1.6 | 10.64 % abc | 2.26 % |
| Downtown Manhattan Office Class A | 14.96 | 1.46 | 16.42 | 18.49 % | 0.26 % |
| Total Manhattan Office Class A | 38.53 | 8.38 | 46.91 | % | 2.19 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.81 million RSF to 22.91 million RSF
- Total Manhattan Office Market vacancies increased from 35.82 million RSF to 35.93 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.89 | 2.05 | 20.94 | 8.1 % | 0.61 % |
| Midtown South Manhattan Office | 5.69 | 0.52 | 6.2 | 7.6 % | -1.29 % |
| Downtown Manhattan Office | 7.86 | 0.94 | 8.79 | 8.0 % | 0.73 % |
| Total Manhattan Office | 32.43 | 3.5 | 35.93 | 8.0 % | 0.31 % |
| 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 | 31.1 | 7.91 | 39.01 | 11.92 % | 0.61 % |
| Midtown South Manhattan Office | 8.96 | 1.23 | 10.19 | 9.77 % abc | -1.29 % |
| Downtown Manhattan Office | 19.3 | 1.85 | 21.15 | 15.72 % | 0.5 % |
| Total Manhattan Office | 59.35 | 10.99 | 70.34 | % | 2.19 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 32.37 million RSF to 32.43 million RSF.
- Manhattan Office Sublease vacancy increased from 3.45 million RSF to 3.5 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 35.82 million RSF to 35.93 million RSF.
- Total Midtown Office vacancy increased from 20.81 million RSF to 20.94 million RSF.
- Total Midtown South Office vacancy decreased from 6.28 million RSF to 6.2 million RSF
- Total Downtown Office vacancy increased from 8.73 million RSF to 8.79 million RSF.
