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August 2012

August 2012 » Market Analysis » New York Office Report

August 2012 NY 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 12.72 2.86 15.59 9.0 % -1.46 %
Midtown South Manhattan Office Class A 0.84 0.04 0.89 8.5 % 47.86 %
Downtown Manhattan Office Class A 4.22 0.39 4.62 8.2 % 3.9 %
Total Manhattan Office Class A 17.79 3.29 21.09 8.8 % 1.79 %
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 21.83 6.43 28.27 12.53 % -1.46 %
Midtown South Manhattan Office Class A 1.69 0.14 1.84 12.06 % abc 47.86 %
Downtown Manhattan Office Class A 16.3 1.29 17.59 19.48 % -0.57 %
Total Manhattan Office Class A 39.82 7.87 47.69 % -1.74 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.71 million RSF to 21.09 million RSF
  • Total Manhattan Office Market vacancies increased from 31.21 million RSF to 31.54 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.4 3.24 20.64 8.0 % -1.23 %
Midtown South Manhattan Office 3.83 0.29 4.12 5.1 % 8.52 %
Downtown Manhattan Office 6.03 0.75 6.78 7.4 % 3.31 %
Total Manhattan Office 27.26 4.27 31.54 7.3 % 1.02 %
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 30.17 7.75 37.92 11.43 % -1.23 %
Midtown South Manhattan Office 7.47 1.14 8.61 8.19 % abc 8.52 %
Downtown Manhattan Office 19.7 1.91 21.61 16.04 % -1.07 %
Total Manhattan Office 57.33 10.8 68.14 % -1.77 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 27.3 million RSF to 27.26 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.91 million RSF to 4.27 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 31.21 million RSF to 31.54 million RSF.
  • Total Midtown Office vacancy decreased from 20.89 million RSF to 20.64 million RSF
  • Total Midtown South Office vacancy increased from 3.77 million RSF to 4.12 million RSF.
  • Total Downtown Office vacancy increased from 6.55 million RSF to 6.78 million RSF.



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