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April 2013

April 2013 » Market Analysis » New York Office Report

April 2013 Manhattan 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 13.33 2.87 16.2 8.9 % 0.97 %
Midtown South Manhattan Office Class A 0.45 0.02 0.47 7.4 % 0.0 %
Downtown Manhattan Office Class A 4.71 0.53 5.24 8.5 % 5.46 %
Total Manhattan Office Class A 18.49 3.41 21.9 8.7 % 2.02 %
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 23.04 6.11 29.16 12.82 % 0.97 %
Midtown South Manhattan Office Class A 1.22 0.04 1.26 8.52 % abc 0.0 %
Downtown Manhattan Office Class A 15.12 1.15 16.27 18.6 % 0.19 %
Total Manhattan Office Class A 39.38 7.31 46.69 % 0.23 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.46 million RSF to 21.9 million RSF
  • Total Manhattan Office Market vacancies increased from 32.71 million RSF to 33.48 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.72 3.37 21.09 7.8 % 0.01 %
Midtown South Manhattan Office 4.6 0.35 4.95 6.0 % 6.53 %
Downtown Manhattan Office 6.64 0.81 7.45 7.5 % 6.02 %
Total Manhattan Office 28.96 4.52 33.48 7.4 % 2.31 %
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 30.4 7.31 37.71 11.48 % 0.01 %
Midtown South Manhattan Office 8.68 1.26 9.94 9.44 % abc 6.53 %
Downtown Manhattan Office 18.6 1.76 20.36 15.42 % -0.1 %
Total Manhattan Office 57.68 10.33 68.01 % 0.45 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.94 million RSF to 28.96 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.77 million RSF to 4.52 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.71 million RSF to 33.48 million RSF.
  • Total Midtown Office vacancy increased from 21.09 million RSF to 21.09 million RSF.
  • Total Midtown South Office vacancy increased from 4.62 million RSF to 4.95 million RSF.
  • Total Downtown Office vacancy increased from 7.0 million RSF to 7.45 million RSF.



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