market research

December 2010

December 2010 » Market Analysis » New York Office Report

December 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 14.03 2.05 16.08 9.2 % -1.42 %
Midtown South Manhattan Office Class A 0.83 0.14 0.97 1.14 % -3.82 %
Downtown Manhattan Office Class A 4.59 1.11 5.7 8.0 % -1.35 %
Total Manhattan Office Class A 19.45 3.3 22.75 9.0 % -1.51 %
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 21.86 6.84 28.69 12.93 % -1.42 %
Midtown South Manhattan Office Class A 1.52 0.24 1.77 11.71 % abc -3.82 %
Downtown Manhattan Office Class A 15.05 1.75 16.81 18.81 % -0.54 %
Total Manhattan Office Class A 38.43 8.83 47.27 % -2.26 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.09 million RSF to 22.75 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.38 million RSF to 35.8 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.06 2.26 21.32 8.2 % -1.0 %
Midtown South Manhattan Office 5.78 0.62 6.4 7.6 % -2.44 %
Downtown Manhattan Office 6.81 1.27 8.08 7.3 % -2.57 %
Total Manhattan Office 31.64 4.15 35.8 7.9 % -1.61 %
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 30.36 8.13 38.49 11.92 % -1.0 %
Midtown South Manhattan Office 9.36 1.39 10.75 10.28 % abc -2.44 %
Downtown Manhattan Office 19.42 2.18 21.6 15.89 % -1.39 %
Total Manhattan Office 59.14 11.7 70.84 % -2.26 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 31.85 million RSF to 31.64 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.52 million RSF to 4.15 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.38 million RSF to 35.8 million RSF
  • Total Midtown Office vacancy decreased from 21.53 million RSF to 21.32 million RSF
  • Total Midtown South Office vacancy decreased from 6.56 million RSF to 6.4 million RSF
  • Total Downtown Office vacancy decreased from 8.29 million RSF to 8.08 million RSF



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