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February 2012 » 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 | 12.35 | 2.14 | 14.49 | 8.6 % | 1.33 % |
| Midtown South Manhattan Office Class A | 0.48 | 0.02 | 0.5 | 8.5 % | 0.2 % |
| Downtown Manhattan Office Class A | 4.54 | 0.3 | 4.84 | 8.3 % | -1.45 % |
| Total Manhattan Office Class A | 17.37 | 2.46 | 19.83 | 8.5 % | 0.62 % |
| 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 | 22.14 | 5.86 | 28.0 | 12.36 % | 1.33 % |
| Midtown South Manhattan Office Class A | 1.51 | 0.13 | 1.64 | 10.64 % abc | 0.2 % |
| Downtown Manhattan Office Class A | 16.23 | 0.93 | 17.16 | 19.04 % | -2.75 % |
| Total Manhattan Office Class A | 39.88 | 6.92 | 46.8 | % | -0.59 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 19.71 million RSF to 19.83 million RSF
- Total Manhattan Office Market vacancies increased from 31.01 million RSF to 31.16 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.23 | 2.39 | 19.62 | 7.7 % | 1.46 % |
| Midtown South Manhattan Office | 3.96 | 0.22 | 4.17 | 5.6 % | -0.34 % |
| Downtown Manhattan Office | 6.91 | 0.45 | 7.36 | 7.7 % | -1.67 % |
| Total Manhattan Office | 28.1 | 3.06 | 31.16 | 7.3 % | 0.48 % |
| 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 | 31.04 | 7.2 | 38.24 | 11.6 % | 1.46 % |
| Midtown South Manhattan Office | 7.56 | 0.93 | 8.49 | 8.19 % abc | -0.34 % |
| Downtown Manhattan Office | 20.14 | 1.52 | 21.66 | 16.08 % | -2.31 % |
| Total Manhattan Office | 58.73 | 9.66 | 68.38 | % | -0.5 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 27.89 million RSF to 28.1 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.12 million RSF to 3.06 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.01 million RSF to 31.16 million RSF.
- Total Midtown Office vacancy increased from 19.33 million RSF to 19.62 million RSF.
- Total Midtown South Office vacancy decreased from 4.19 million RSF to 4.17 million RSF
- Total Downtown Office vacancy decreased from 7.49 million RSF to 7.36 million RSF
