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February 2011

February 2011 » Market Analysis » New York Office Report

February 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 13.94 1.73 15.68 8.8 % 0.12 %
Midtown South Manhattan Office Class A 0.77 0.09 0.86 10.8 % -8.8 %
Downtown Manhattan Office Class A 5.42 0.85 6.27 9.0 % 12.17 %
Total Manhattan Office Class A 20.14 2.67 22.81 8.9 % 3.09 %
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 21.52 6.3 27.82 12.45 % 0.12 %
Midtown South Manhattan Office Class A 1.47 0.22 1.68 11.12 % abc -8.8 %
Downtown Manhattan Office Class A 14.9 1.48 16.38 18.49 % -2.31 %
Total Manhattan Office Class A 37.89 8.0 45.88 % -1.54 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.11 million RSF to 22.81 million RSF
  • Total Manhattan Office Market vacancies increased from 34.87 million RSF to 35.82 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.87 1.94 20.81 7.9 % 0.06 %
Midtown South Manhattan Office 5.74 0.54 6.28 7.8 % 2.66 %
Downtown Manhattan Office 7.76 0.97 8.73 8.1 % 8.82 %
Total Manhattan Office 32.37 3.45 35.82 7.9 % 2.65 %
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 29.91 7.46 37.37 11.51 % 0.06 %
Midtown South Manhattan Office 9.09 1.3 10.39 9.99 % abc 2.66 %
Downtown Manhattan Office 19.15 1.9 21.05 15.81 % -2.3 %
Total Manhattan Office 58.15 10.66 68.8 % -1.08 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.09 million RSF to 32.37 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.78 million RSF to 3.45 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 34.87 million RSF to 35.82 million RSF.
  • Total Midtown Office vacancy increased from 20.8 million RSF to 20.81 million RSF.
  • Total Midtown South Office vacancy increased from 6.12 million RSF to 6.28 million RSF.
  • Total Downtown Office vacancy increased from 7.96 million RSF to 8.73 million RSF.



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