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March 2013 » 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 | 12.87 | 3.17 | 16.04 | 9.0 % | 4.17 % |
| Midtown South Manhattan Office Class A | 0.45 | 0.02 | 0.47 | 8.6 % | 24.89 % |
| Downtown Manhattan Office Class A | 4.42 | 0.53 | 4.95 | 7.9 % | 4.36 % |
| Total Manhattan Office Class A | 17.74 | 3.71 | 21.46 | 8.7 % | 4.67 % |
| 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 | 22.55 | 6.4 | 28.96 | 12.76 % | 4.17 % |
| Midtown South Manhattan Office Class A | 1.2 | 0.19 | 1.39 | 9.27 % abc | 24.89 % |
| Downtown Manhattan Office Class A | 15.04 | 1.2 | 16.24 | 18.46 % | 0.64 % |
| Total Manhattan Office Class A | 38.79 | 7.79 | 46.58 | % | 1.96 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 20.45 million RSF to 21.46 million RSF
- Total Manhattan Office Market vacancies increased from 31.24 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 | 17.43 | 3.65 | 21.09 | 8.0 % | 4.68 % |
| Midtown South Manhattan Office | 4.29 | 0.33 | 4.62 | 5.9 % | 5.02 % |
| Downtown Manhattan Office | 6.22 | 0.78 | 7.0 | 7.0 % | 3.59 % |
| Total Manhattan Office | 27.94 | 4.77 | 32.71 | 7.4 % | 4.49 % |
| 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 | 30.21 | 7.61 | 37.83 | 11.52 % | 4.68 % |
| Midtown South Manhattan Office | 8.31 | 1.19 | 9.5 | 9.04 % abc | 5.02 % |
| Downtown Manhattan Office | 18.55 | 1.83 | 20.38 | 15.37 % | 1.45 % |
| Total Manhattan Office | 57.07 | 10.63 | 67.7 | % | 1.43 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.17 million RSF to 27.94 million RSF.
- Manhattan Office Sublease vacancy increased from 4.07 million RSF to 4.77 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.24 million RSF to 32.71 million RSF.
- Total Midtown Office vacancy increased from 20.1 million RSF to 21.09 million RSF.
- Total Midtown South Office vacancy increased from 4.39 million RSF to 4.62 million RSF.
- Total Downtown Office vacancy increased from 6.75 million RSF to 7.0 million RSF.
