market research

April 2009

April 2009 » Market Analysis » New York Office Report

April 2009 NY Real Estate Graphs and Statistics


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 10.76 3.65 14.41 7.6 % 1.66 %
Midtown South Manhattan Office Class A 0.73 0.04 0.77 10.5 % -39.22 %
Downtown Manhattan Office Class A 2.17 1.52 3.69 6.1 % 0.7 %
Total Manhattan Office Class A 13.66 5.21 18.87 7.4 % -0.2 %
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 22.25 9.61 31.86 14.17 % 1.66 %
Midtown South Manhattan Office Class A 1.36 0.33 1.69 11.26 % abc -39.22 %
Downtown Manhattan Office Class A 11.8 2.25 14.05 17.59 % 0.31 %
Total Manhattan Office Class A 35.41 12.19 47.6 % 4.2 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 18.91 million RSF to 18.87 million RSF.
  • Total Manhattan Office Market vacancies decreased from 31.32 million RSF to 31.3 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 15.18 4.02 19.2 7.0 % 0.68 %
Midtown South Manhattan Office 5.22 0.72 5.94 7.1 % -2.98 %
Downtown Manhattan Office 4.4 1.75 6.16 7.0 % 0.31 %
Total Manhattan Office 24.8 6.49 31.3 7.0 % -0.09 %
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 29.67 11.19 40.86 12.44 % 0.68 %
Midtown South Manhattan Office 9.01 2.34 11.35 11.06 % abc -2.98 %
Downtown Manhattan Office 16.35 2.7 19.05 16.06 % 0.39 %
Total Manhattan Office 55.03 16.23 71.26 % 3.83 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 24.51 million RSF to 24.8 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.81 million RSF to 6.49 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 31.32 million RSF to 31.3 million RSF
  • Total Midtown Office vacancy increased from 19.06 million RSF to 19.2 million RSF.
  • Total Midtown South Office vacancy decreased from 6.12 million RSF to 5.94 million RSF
  • Total Downtown Office vacancy increased from 6.14 million RSF to 6.16 million RSF.



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