market research

August 2010

August 2010 » Market Analysis » New York Office Report

August 2010 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 14.04 2.87 16.91 9.7 % 1.35 %
Midtown South Manhattan Office Class A 0.73 0.15 0.88 10.2 % 0.0 %
Downtown Manhattan Office Class A 4.76 1.28 6.04 9.0 % 2.07 %
Total Manhattan Office Class A 19.52 4.31 23.83 9.6 % 1.48 %
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 21.07 8.16 29.23 13.2 % 1.35 %
Midtown South Manhattan Office Class A 2.03 0.39 2.42 15.58 % abc 0.0 %
Downtown Manhattan Office Class A 13.96 1.96 15.92 19.22 % 2.48 %
Total Manhattan Office Class A 37.06 10.51 47.57 % -0.67 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.47 million RSF to 23.83 million RSF
  • Total Manhattan Office Market vacancies increased from 36.67 million RSF to 37.31 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.15 3.21 22.36 8.6 % 1.65 %
Midtown South Manhattan Office 5.74 0.82 6.56 7.7 % 1.08 %
Downtown Manhattan Office 6.91 1.47 8.38 8.4 % 2.43 %
Total Manhattan Office 31.8 5.5 37.31 8.4 % 1.72 %
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 30.01 9.54 39.55 12.2 % 1.65 %
Midtown South Manhattan Office 9.94 1.9 11.84 11.24 % abc 1.08 %
Downtown Manhattan Office 18.38 2.6 20.98 17.4 % 2.46 %
Total Manhattan Office 58.33 14.05 72.38 % -0.55 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.22 million RSF to 31.8 million RSF.
  • Manhattan Office Sublease vacancy increased from 5.45 million RSF to 5.5 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.67 million RSF to 37.31 million RSF.
  • Total Midtown Office vacancy increased from 21.99 million RSF to 22.36 million RSF.
  • Total Midtown South Office vacancy increased from 6.49 million RSF to 6.56 million RSF.
  • Total Downtown Office vacancy increased from 8.18 million RSF to 8.38 million RSF.



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