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October 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 | 12.15 | 3.62 | 15.77 | 8.5 % | -0.66 % |
| Midtown South Manhattan Office Class A | 0.76 | 0.01 | 0.76 | 10.3 % | -2.09 % |
| Downtown Manhattan Office Class A | 2.8 | 1.61 | 4.41 | 6.3 % | 13.0 % |
| Total Manhattan Office Class A | 15.71 | 5.24 | 20.94 | 8.2 % | 2.16 % |
| 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 | 23.71 | 10.09 | 33.8 | 15.05 % | -0.66 % |
| Midtown South Manhattan Office Class A | 1.92 | 0.24 | 2.16 | 14.09 % abc | -2.09 % |
| Downtown Manhattan Office Class A | 12.48 | 2.54 | 15.02 | 18.66 % | 5.38 % |
| Total Manhattan Office Class A | 38.11 | 12.87 | 50.98 | % | 3.17 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 20.49 million RSF to 20.94 million RSF
- Total Manhattan Office Market vacancies decreased from 33.91 million RSF to 33.88 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 16.82 | 4.0 | 20.82 | 7.5 % | 0.16 % |
| Midtown South Manhattan Office | 6.01 | 0.66 | 6.67 | 7.6 % | -0.56 % |
| Downtown Manhattan Office | 4.61 | 1.78 | 6.39 | 7.0 % | -0.39 % |
| Total Manhattan Office | 27.44 | 6.44 | 33.88 | 7.4 % | -0.08 % |
| 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 | 32.26 | 11.95 | 44.21 | 13.33 % | 0.16 % |
| Midtown South Manhattan Office | 10.7 | 2.49 | 13.19 | 12.53 % abc | -0.56 % |
| Downtown Manhattan Office | 16.65 | 3.04 | 19.68 | 16.64 % | 1.09 % |
| Total Manhattan Office | 59.61 | 17.47 | 77.08 | % | 1.25 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.08 million RSF to 27.44 million RSF.
- Manhattan Office Sublease vacancy decreased from 6.83 million RSF to 6.44 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 33.91 million RSF to 33.88 million RSF
- Total Midtown Office vacancy increased from 20.79 million RSF to 20.82 million RSF.
- Total Midtown South Office vacancy decreased from 6.7 million RSF to 6.67 million RSF
- Total Downtown Office vacancy decreased from 6.41 million RSF to 6.39 million RSF
