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November 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 | 12.44 | 3.58 | 16.02 | 8.5 % | 1.58 % |
| Midtown South Manhattan Office Class A | 0.95 | 0.01 | 0.96 | 11.7 % | 20.75 % |
| Downtown Manhattan Office Class A | 2.9 | 1.56 | 4.46 | 7.2 % | 1.19 % |
| Total Manhattan Office Class A | 16.3 | 5.15 | 21.45 | 8.4 % | 2.36 % |
| 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 | 23.23 | 9.83 | 33.06 | 14.58 % | 1.58 % |
| Midtown South Manhattan Office Class A | 2.06 | 0.29 | 2.35 | 15.36 % abc | 20.75 % |
| Downtown Manhattan Office Class A | 12.76 | 2.41 | 15.17 | 18.82 % | 0.98 % |
| Total Manhattan Office Class A | 38.05 | 12.53 | 50.58 | % | -0.79 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 20.94 million RSF to 21.45 million RSF
- Total Manhattan Office Market vacancies increased from 33.88 million RSF to 34.41 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.23 | 3.97 | 21.21 | 7.6 % | 1.81 % |
| Midtown South Manhattan Office | 6.07 | 0.72 | 6.79 | 7.9 % | 1.84 % |
| Downtown Manhattan Office | 4.68 | 1.74 | 6.42 | 7.2 % | 0.45 % |
| Total Manhattan Office | 27.98 | 6.43 | 34.41 | 7.6 % | 1.56 % |
| 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 | 31.85 | 11.69 | 43.53 | 13.05 % | 1.81 % |
| Midtown South Manhattan Office | 10.5 | 2.37 | 12.88 | 12.2 % abc | 1.84 % |
| Downtown Manhattan Office | 16.97 | 2.88 | 19.85 | 16.76 % | 0.85 % |
| Total Manhattan Office | 59.32 | 16.94 | 76.26 | % | -1.07 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.44 million RSF to 27.98 million RSF.
- Manhattan Office Sublease vacancy decreased from 6.44 million RSF to 6.43 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 33.88 million RSF to 34.41 million RSF.
- Total Midtown Office vacancy increased from 20.82 million RSF to 21.21 million RSF.
- Total Midtown South Office vacancy increased from 6.67 million RSF to 6.79 million RSF.
- Total Downtown Office vacancy increased from 6.39 million RSF to 6.42 million RSF.
