market research

December 2009

December 2009 » Market Analysis » New York Office Report

December 2009 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 12.95 3.44 16.39 8.8 % 2.22 %
Midtown South Manhattan Office Class A 0.96 0.07 1.03 9.5 % 6.32 %
Downtown Manhattan Office Class A 2.84 1.5 4.33 6.8 % -2.86 %
Total Manhattan Office Class A 16.75 5.0 21.75 8.3 % 1.4 %
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 23.54 9.61 33.15 14.69 % 2.22 %
Midtown South Manhattan Office Class A 2.02 0.41 2.43 15.88 % abc 6.32 %
Downtown Manhattan Office Class A 12.73 2.38 15.11 18.73 % -0.42 %
Total Manhattan Office Class A 38.29 12.39 50.69 % 0.22 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.45 million RSF to 21.75 million RSF
  • Total Manhattan Office Market vacancies increased from 34.41 million RSF to 34.89 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.89 3.82 21.71 7.8 % 2.34 %
Midtown South Manhattan Office 6.06 0.78 6.84 7.6 % 0.75 %
Downtown Manhattan Office 4.64 1.7 6.34 7.0 % -1.29 %
Total Manhattan Office 28.59 6.3 34.89 7.6 % 1.36 %
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 32.5 11.38 43.89 13.22 % 2.34 %
Midtown South Manhattan Office 10.65 2.41 13.06 12.22 % abc 0.75 %
Downtown Manhattan Office 16.92 2.87 19.79 16.7 % -0.34 %
Total Manhattan Office 60.07 16.66 76.73 % 0.62 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.98 million RSF to 28.59 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.43 million RSF to 6.3 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 34.41 million RSF to 34.89 million RSF.
  • Total Midtown Office vacancy increased from 21.21 million RSF to 21.71 million RSF.
  • Total Midtown South Office vacancy increased from 6.79 million RSF to 6.84 million RSF.
  • Total Downtown Office vacancy decreased from 6.42 million RSF to 6.34 million RSF



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