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September 2012 » 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 | 12.85 | 3.03 | 15.87 | 9.2 % | 1.81 % |
| Midtown South Manhattan Office Class A | 0.67 | 0.04 | 0.71 | 8.4 % | -24.96 % |
| Downtown Manhattan Office Class A | 4.84 | 0.46 | 5.3 | 7.9 % | 12.91 % |
| Total Manhattan Office Class A | 18.36 | 3.52 | 21.88 | 8.9 % | 3.63 % |
| 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 | 21.63 | 6.21 | 27.83 | 12.39 % | 1.81 % |
| Midtown South Manhattan Office Class A | 1.41 | 0.09 | 1.5 | 9.93 % abc | -24.96 % |
| Downtown Manhattan Office Class A | 16.05 | 1.27 | 17.33 | 19.38 % | -1.51 % |
| Total Manhattan Office Class A | 39.09 | 7.57 | 46.66 | % | -2.22 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.09 million RSF to 21.88 million RSF
- Total Manhattan Office Market vacancies increased from 31.54 million RSF to 32.44 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.71 | 3.41 | 21.12 | 8.3 % | 2.27 % |
| Midtown South Manhattan Office | 3.53 | 0.29 | 3.82 | 5.3 % | -7.71 % |
| Downtown Manhattan Office | 6.68 | 0.81 | 7.5 | 7.3 % | 9.6 % |
| Total Manhattan Office | 27.93 | 4.51 | 32.44 | 7.5 % | 2.79 % |
| 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 | 29.92 | 7.51 | 37.44 | 11.41 % | 2.27 % |
| Midtown South Manhattan Office | 7.05 | 1.15 | 8.19 | 7.94 % abc | -7.71 % |
| Downtown Manhattan Office | 19.45 | 1.9 | 21.34 | 15.95 % | -1.23 % |
| Total Manhattan Office | 56.42 | 10.55 | 66.97 | % | -1.74 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.26 million RSF to 27.93 million RSF.
- Manhattan Office Sublease vacancy increased from 4.27 million RSF to 4.51 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.54 million RSF to 32.44 million RSF.
- Total Midtown Office vacancy increased from 20.64 million RSF to 21.12 million RSF.
- Total Midtown South Office vacancy decreased from 4.12 million RSF to 3.82 million RSF
- Total Downtown Office vacancy increased from 6.78 million RSF to 7.5 million RSF.
