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December 2011 » Market Analysis » New York Office Report
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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 | 12.75 | 2.17 | 14.91 | 8.6 % | -0.23 % |
| Midtown South Manhattan Office Class A | 0.45 | 0.02 | 0.47 | 8.8 % | -14.16 % |
| Downtown Manhattan Office Class A | 5.09 | 0.31 | 5.4 | 9.6 % | 0.11 % |
| Total Manhattan Office Class A | 18.29 | 2.5 | 20.79 | 8.8 % | -0.46 % |
| 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 | 22.2 | 5.73 | 27.93 | 12.41 % | -0.23 % |
| Midtown South Manhattan Office Class A | 1.85 | 0.07 | 1.92 | 12.14 % abc | -14.16 % |
| Downtown Manhattan Office Class A | 16.86 | 1.0 | 17.86 | 19.74 % | 2.08 % |
| Total Manhattan Office Class A | 40.91 | 6.79 | 47.71 | % | 2.5 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 20.88 million RSF to 20.79 million RSF.
- Total Manhattan Office Market vacancies decreased from 33.38 million RSF to 33.08 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.69 | 2.49 | 20.18 | 7.7 % | -0.6 % |
| Midtown South Manhattan Office | 4.59 | 0.31 | 4.89 | 6.4 % | -4.02 % |
| Downtown Manhattan Office | 7.53 | 0.47 | 8.0 | 8.5 % | 0.21 % |
| Total Manhattan Office | 29.81 | 3.26 | 33.08 | 7.6 % | -0.91 % |
| 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 | 31.08 | 7.05 | 38.13 | 11.64 % | -0.6 % |
| Midtown South Manhattan Office | 8.66 | 1.04 | 9.7 | 9.21 % abc | -4.02 % |
| Downtown Manhattan Office | 20.78 | 1.62 | 22.4 | 16.64 % | 1.75 % |
| Total Manhattan Office | 60.52 | 9.71 | 70.24 | % | 1.45 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 30.16 million RSF to 29.81 million RSF.
- Manhattan Office Sublease vacancy increased from 3.22 million RSF to 3.26 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 33.38 million RSF to 33.08 million RSF
- Total Midtown Office vacancy decreased from 20.3 million RSF to 20.18 million RSF
- Total Midtown South Office vacancy decreased from 5.09 million RSF to 4.89 million RSF
- Total Downtown Office vacancy increased from 7.98 million RSF to 8.0 million RSF.
