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December 2011

December 2011 » Market Analysis » New York Office Report

December 2011 New York 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 12.75 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.



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