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April 2011

April 2011 » Market Analysis » New York Office Report

April 2011 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 13.66 1.92 15.58 8.9 % -0.73 %
Midtown South Manhattan Office Class A 0.79 0.09 0.88 11.0 % 0.0 %
Downtown Manhattan Office Class A 5.71 0.73 6.44 9.3 % 1.75 %
Total Manhattan Office Class A 20.17 2.74 22.91 9.1 % -0.0 %
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 21.68 6.57 28.25 12.61 % -0.73 %
Midtown South Manhattan Office Class A 1.41 0.17 1.57 10.49 % abc 0.0 %
Downtown Manhattan Office Class A 15.23 1.39 16.63 18.61 % 1.24 %
Total Manhattan Office Class A 38.32 8.13 46.45 % -0.98 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies stayed at 22.91 million RSF.
  • Total Manhattan Office Market vacancies decreased from 35.93 million RSF to 35.77 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.46 2.14 20.6 8.0 % -1.64 %
Midtown South Manhattan Office 5.48 0.47 5.95 7.4 % -4.2 %
Downtown Manhattan Office 8.39 0.84 9.22 7.6 % 4.68 %
Total Manhattan Office 32.33 3.45 35.77 8.0 % -0.44 %
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 30.62 7.71 38.33 11.77 % -1.64 %
Midtown South Manhattan Office 8.73 1.28 10.0 9.56 % abc -4.2 %
Downtown Manhattan Office 19.85 1.78 21.63 16.17 % 2.2 %
Total Manhattan Office 59.19 10.77 69.96 % -0.55 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.43 million RSF to 32.33 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.5 million RSF to 3.45 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 35.93 million RSF to 35.77 million RSF
  • Total Midtown Office vacancy decreased from 20.94 million RSF to 20.6 million RSF
  • Total Midtown South Office vacancy decreased from 6.2 million RSF to 5.95 million RSF
  • Total Downtown Office vacancy increased from 8.79 million RSF to 9.22 million RSF.



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