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August 2011

August 2011 » Market Analysis » New York Office Report

August 2011 Manhattan 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 12.88 2.05 14.93 9.1 % 1.49 %
Midtown South Manhattan Office Class A 0.51 0.07 0.58 7.5 % -51.55 %
Downtown Manhattan Office Class A 4.69 0.39 5.09 9.7 % -7.12 %
Total Manhattan Office Class A 18.08 2.51 20.6 9.2 % -2.13 %
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 19.81 6.34 26.15 11.77 % 1.49 %
Midtown South Manhattan Office Class A 1.5 0.09 1.59 10.62 % abc -51.55 %
Downtown Manhattan Office Class A 15.9 1.11 17.02 19.12 % 4.0 %
Total Manhattan Office Class A 37.21 7.54 44.76 % -0.1 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 21.04 million RSF to 20.6 million RSF.
  • Total Manhattan Office Market vacancies increased from 33.39 million RSF to 33.67 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.95 2.31 20.27 8.2 % 3.41 %
Midtown South Manhattan Office 5.21 0.4 5.6 6.9 % -0.37 %
Downtown Manhattan Office 7.25 0.56 7.8 8.6 % -4.96 %
Total Manhattan Office 30.41 3.27 33.67 8.0 % 0.84 %
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 28.95 7.63 36.59 11.29 % 3.41 %
Midtown South Manhattan Office 8.55 0.95 9.5 9.14 % abc -0.37 %
Downtown Manhattan Office 20.42 1.7 22.11 16.5 % 3.21 %
Total Manhattan Office 57.92 10.28 68.2 % 1.16 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.15 million RSF to 30.41 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.24 million RSF to 3.27 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.39 million RSF to 33.67 million RSF.
  • Total Midtown Office vacancy increased from 19.57 million RSF to 20.27 million RSF.
  • Total Midtown South Office vacancy decreased from 5.63 million RSF to 5.6 million RSF
  • Total Downtown Office vacancy decreased from 8.19 million RSF to 7.8 million RSF



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