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February 2012

February 2012 » Market Analysis » New York Office Report

February 2012 NYC 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 12.35 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



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