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October 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 | 12.41 | 2.02 | 14.42 | 8.7 % | 2.79 % |
| Midtown South Manhattan Office Class A | 0.58 | 0.02 | 0.59 | 6.1 % | 2.7 % |
| Downtown Manhattan Office Class A | 4.96 | 0.36 | 5.32 | 9.9 % | -1.13 % |
| Total Manhattan Office Class A | 17.95 | 2.39 | 20.33 | 8.9 % | 1.76 % |
| 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 | 20.84 | 5.81 | 26.65 | 11.89 % | 2.79 % |
| Midtown South Manhattan Office Class A | 1.15 | 0.06 | 1.21 | 8.16 % abc | 2.7 % |
| Downtown Manhattan Office Class A | 16.55 | 0.98 | 17.53 | 19.59 % | 0.96 % |
| Total Manhattan Office Class A | 38.55 | 6.84 | 45.39 | % | 1.76 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 19.98 million RSF to 20.33 million RSF
- Total Manhattan Office Market vacancies increased from 32.69 million RSF to 32.93 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.29 | 2.29 | 19.58 | 7.8 % | 1.75 % |
| Midtown South Manhattan Office | 4.92 | 0.32 | 5.24 | 6.4 % | -2.42 % |
| Downtown Manhattan Office | 7.6 | 0.52 | 8.11 | 8.8 % | 0.39 % |
| Total Manhattan Office | 29.81 | 3.13 | 32.93 | 7.8 % | 0.75 % |
| 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 | 30.23 | 7.03 | 37.26 | 11.36 % | 1.75 % |
| Midtown South Manhattan Office | 7.8 | 0.96 | 8.76 | 8.47 % abc | -2.42 % |
| Downtown Manhattan Office | 20.87 | 1.61 | 22.48 | 16.75 % | 0.6 % |
| Total Manhattan Office | 58.9 | 9.6 | 68.5 | % | 1.28 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.47 million RSF to 29.81 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.22 million RSF to 3.13 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.69 million RSF to 32.93 million RSF.
- Total Midtown Office vacancy increased from 19.24 million RSF to 19.58 million RSF.
- Total Midtown South Office vacancy decreased from 5.37 million RSF to 5.24 million RSF
- Total Downtown Office vacancy increased from 8.08 million RSF to 8.11 million RSF.
