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April 2010

April 2010 » Market Analysis » New York Office Report

April 2010 New York Office Space 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 13.5 3.39 16.89 9.2 % 0.31 %
Midtown South Manhattan Office Class A 0.95 0.06 1.01 9.6 % -3.86 %
Downtown Manhattan Office Class A 3.7 1.24 4.93 7.5 % 2.68 %
Total Manhattan Office Class A 18.15 4.69 22.84 8.8 % 0.63 %
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 22.44 8.86 31.3 14.03 % 0.31 %
Midtown South Manhattan Office Class A 1.69 0.36 2.05 13.63 % abc -3.86 %
Downtown Manhattan Office Class A 15.12 2.1 17.22 20.14 % 10.54 %
Total Manhattan Office Class A 39.25 11.32 50.57 % 3.46 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.69 million RSF to 22.84 million RSF
  • Total Manhattan Office Market vacancies increased from 36.22 million RSF to 36.32 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.57 3.87 22.44 8.3 % -0.19 %
Midtown South Manhattan Office 5.93 0.68 6.61 7.6 % -1.62 %
Downtown Manhattan Office 5.85 1.42 7.27 7.4 % 3.44 %
Total Manhattan Office 30.35 5.97 36.32 8.0 % 0.28 %
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 31.31 10.5 41.81 12.77 % -0.19 %
Midtown South Manhattan Office 10.12 1.98 12.1 11.5 % abc -1.62 %
Downtown Manhattan Office 19.4 2.55 21.95 17.86 % 8.35 %
Total Manhattan Office 60.83 15.02 75.86 % 1.69 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.17 million RSF to 30.35 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.05 million RSF to 5.97 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.22 million RSF to 36.32 million RSF.
  • Total Midtown Office vacancy decreased from 22.48 million RSF to 22.44 million RSF
  • Total Midtown South Office vacancy decreased from 6.71 million RSF to 6.61 million RSF
  • Total Downtown Office vacancy increased from 7.02 million RSF to 7.27 million RSF.



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