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April 2012

April 2012 » Market Analysis » New York Office Report

April 2012 NYC Office 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 12.33 2.21 14.54 8.5 % 0.27 %
Midtown South Manhattan Office Class A 0.47 0.02 0.49 8.4 % -2.46 %
Downtown Manhattan Office Class A 4.32 0.31 4.62 8.3 % -1.71 %
Total Manhattan Office Class A 17.11 2.54 19.65 8.5 % -0.26 %
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 21.97 6.29 28.27 12.48 % 0.27 %
Midtown South Manhattan Office Class A 1.86 0.09 1.95 12.41 % abc -2.46 %
Downtown Manhattan Office Class A 15.09 1.15 16.24 18.33 % -4.19 %
Total Manhattan Office Class A 38.92 7.53 46.46 % -0.26 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 19.7 million RSF to 19.65 million RSF.
  • Total Manhattan Office Market vacancies increased from 30.97 million RSF to 31.14 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.22 2.54 19.77 7.7 % 0.68 %
Midtown South Manhattan Office 3.92 0.27 4.19 5.7 % 4.63 %
Downtown Manhattan Office 6.49 0.7 7.18 7.7 % -2.31 %
Total Manhattan Office 27.63 3.5 31.14 7.3 % 0.52 %
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 30.7 7.63 38.33 11.63 % 0.68 %
Midtown South Manhattan Office 8.11 0.91 9.02 8.68 % abc 4.63 %
Downtown Manhattan Office 19.55 1.94 21.49 16.01 % -0.1 %
Total Manhattan Office 58.36 10.48 68.84 % 1.44 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 27.64 million RSF to 27.63 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.33 million RSF to 3.5 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 30.97 million RSF to 31.14 million RSF.
  • Total Midtown Office vacancy increased from 19.63 million RSF to 19.77 million RSF.
  • Total Midtown South Office vacancy increased from 4.0 million RSF to 4.19 million RSF.
  • Total Downtown Office vacancy decreased from 7.35 million RSF to 7.18 million RSF



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