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February 2009 » 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 | 10.37 | 3.65 | 14.02 | 7.3 % | -0.53 % |
| Midtown South Manhattan Office Class A | 1.04 | 0.04 | 1.08 | 10.5 % | 12.23 % |
| Downtown Manhattan Office Class A | 2.2 | 1.74 | 3.94 | 6.3 % | -0.1 % |
| Total Manhattan Office Class A | 13.62 | 5.42 | 19.04 | 7.2 % | 0.28 % |
| 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 | 21.0 | 7.78 | 28.79 | 12.96 % | -0.53 % |
| Midtown South Manhattan Office Class A | 1.37 | 0.26 | 1.63 | 11.11 % abc | 12.23 % |
| Downtown Manhattan Office Class A | 11.78 | 2.3 | 14.08 | 17.67 % | -18.06 % |
| Total Manhattan Office Class A | 34.15 | 10.34 | 44.5 | % | -1.35 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 18.98 million RSF to 19.04 million RSF
- Total Manhattan Office Market vacancies increased from 31.34 million RSF to 32.17 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 14.71 | 4.16 | 18.87 | 6.8 % | 1.07 % |
| Midtown South Manhattan Office | 5.32 | 0.86 | 6.18 | 7.2 % | -1.42 % |
| Downtown Manhattan Office | 4.39 | 2.74 | 7.12 | 7.0 % | 10.05 % |
| Total Manhattan Office | 24.41 | 7.76 | 32.17 | 6.9 % | 2.58 % |
| 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 | 27.67 | 9.28 | 36.95 | 11.4 % | 1.07 % |
| Midtown South Manhattan Office | 8.28 | 2.01 | 10.29 | 10.14 % abc | -1.42 % |
| Downtown Manhattan Office | 16.17 | 2.74 | 18.91 | 16.09 % | -13.26 % |
| Total Manhattan Office | 52.12 | 14.03 | 66.15 | % | 0.57 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 24.43 million RSF to 24.41 million RSF.
- Manhattan Office Sublease vacancy increased from 6.91 million RSF to 7.76 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.34 million RSF to 32.17 million RSF.
- Total Midtown Office vacancy increased from 18.67 million RSF to 18.87 million RSF.
- Total Midtown South Office vacancy decreased from 6.27 million RSF to 6.18 million RSF
- Total Downtown Office vacancy increased from 6.41 million RSF to 7.12 million RSF.
