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August 2009

August 2009 » Market Analysis » New York Office Report

August 2009 NYC 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 12.15 3.91 16.06 8.6 % 6.04 %
Midtown South Manhattan Office Class A 0.67 0.03 0.71 10.0 % -14.89 %
Downtown Manhattan Office Class A 2.05 1.65 3.7 6.1 % -3.62 %
Total Manhattan Office Class A 14.88 5.59 20.47 8.1 % 3.57 %
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 22.98 10.5 33.48 15.04 % 6.04 %
Midtown South Manhattan Office Class A 1.98 0.24 2.22 14.41 % abc -14.89 %
Downtown Manhattan Office Class A 11.86 2.38 14.24 17.69 % -1.41 %
Total Manhattan Office Class A 36.83 13.11 49.94 % -0.59 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 19.74 million RSF to 20.47 million RSF
  • Total Manhattan Office Market vacancies increased from 32.71 million RSF to 33.76 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.66 4.31 20.97 7.5 % 4.81 %
Midtown South Manhattan Office 5.7 0.84 6.54 7.6 % 2.11 %
Downtown Manhattan Office 4.44 1.8 6.24 7.0 % -1.52 %
Total Manhattan Office 26.81 6.95 33.76 7.4 % 3.12 %
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 31.51 12.41 43.92 13.36 % 4.81 %
Midtown South Manhattan Office 10.71 2.41 13.12 12.52 % abc 2.11 %
Downtown Manhattan Office 16.53 2.96 19.49 16.35 % -1.1 %
Total Manhattan Office 58.75 17.78 76.53 % 0.75 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 25.88 million RSF to 26.81 million RSF.
  • Manhattan Office Sublease vacancy increased from 6.83 million RSF to 6.95 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.71 million RSF to 33.76 million RSF.
  • Total Midtown Office vacancy increased from 19.96 million RSF to 20.97 million RSF.
  • Total Midtown South Office vacancy increased from 6.41 million RSF to 6.54 million RSF.
  • Total Downtown Office vacancy decreased from 6.33 million RSF to 6.24 million RSF



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