market research

February 2010

February 2010 » Market Analysis » New York Office Report

February 2010 NY 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 13.31 3.48 16.8 9.1 % 1.42 %
Midtown South Manhattan Office Class A 0.96 0.06 1.02 9.7 % 0.59 %
Downtown Manhattan Office Class A 3.34 1.24 4.58 7.5 % 7.31 %
Total Manhattan Office Class A 17.61 4.79 22.4 8.7 % 2.58 %
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 22.21 9.25 31.46 14.13 % 1.42 %
Midtown South Manhattan Office Class A 2.19 0.39 2.58 16.76 % abc 0.59 %
Downtown Manhattan Office Class A 13.31 2.14 15.45 18.61 % 2.8 %
Total Manhattan Office Class A 37.71 11.77 49.48 % -2.76 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.82 million RSF to 22.4 million RSF
  • Total Manhattan Office Market vacancies increased from 34.95 million RSF to 35.68 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.38 3.88 22.27 8.2 % 1.33 %
Midtown South Manhattan Office 6.09 0.61 6.71 7.7 % -0.39 %
Downtown Manhattan Office 5.29 1.41 6.7 7.0 % 6.86 %
Total Manhattan Office 29.77 5.91 35.68 7.8 % 2.05 %
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 31.13 11.23 42.37 12.9 % 1.33 %
Midtown South Manhattan Office 10.74 2.16 12.9 12.13 % abc -0.39 %
Downtown Manhattan Office 17.55 2.58 20.13 16.6 % 2.09 %
Total Manhattan Office 59.42 15.97 75.4 % -1.56 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 28.71 million RSF to 29.77 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.24 million RSF to 5.91 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 34.95 million RSF to 35.68 million RSF.
  • Total Midtown Office vacancy increased from 21.97 million RSF to 22.27 million RSF.
  • Total Midtown South Office vacancy decreased from 6.73 million RSF to 6.71 million RSF
  • Total Downtown Office vacancy increased from 6.24 million RSF to 6.7 million RSF.



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