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December 2012

December 2012 » Market Analysis » New York Office Report

December 2012 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 12.59 3.04 15.64 9.3 % 1.73 %
Midtown South Manhattan Office Class A 0.61 0.01 0.62 10.0 % -7.57 %
Downtown Manhattan Office Class A 3.75 0.57 4.32 7.7 % 2.29 %
Total Manhattan Office Class A 16.95 3.62 20.58 8.9 % 1.57 %
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 21.93 6.67 28.6 12.62 % 1.73 %
Midtown South Manhattan Office Class A 1.46 0.04 1.5 9.88 % abc -7.57 %
Downtown Manhattan Office Class A 15.51 1.22 16.73 18.77 % -0.47 %
Total Manhattan Office Class A 38.9 7.93 46.83 % 0.42 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.26 million RSF to 20.58 million RSF
  • Total Manhattan Office Market vacancies increased from 31.23 million RSF to 31.82 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.08 3.49 20.57 8.2 % 1.47 %
Midtown South Manhattan Office 4.51 0.21 4.72 6.3 % 2.35 %
Downtown Manhattan Office 5.71 0.82 6.53 7.1 % 2.6 %
Total Manhattan Office 27.3 4.51 31.82 7.6 % 1.83 %
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 29.98 7.88 37.86 11.51 % 1.47 %
Midtown South Manhattan Office 8.12 1.02 9.14 8.75 % abc 2.35 %
Downtown Manhattan Office 19.08 1.74 20.82 15.58 % -0.23 %
Total Manhattan Office 57.18 10.64 67.81 % 0.04 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 26.85 million RSF to 27.3 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.39 million RSF to 4.51 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 31.23 million RSF to 31.82 million RSF.
  • Total Midtown Office vacancy increased from 20.27 million RSF to 20.57 million RSF.
  • Total Midtown South Office vacancy increased from 4.61 million RSF to 4.72 million RSF.
  • Total Downtown Office vacancy increased from 6.36 million RSF to 6.53 million RSF.



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