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February 2013

February 2013 » Market Analysis » New York Office Report

February 2013 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 12.48 2.89 15.37 9.1 % -2.09 %
Midtown South Manhattan Office Class A 0.35 0.0 0.35 7.8 % 0.0 %
Downtown Manhattan Office Class A 4.33 0.4 4.74 7.6 % -2.96 %
Total Manhattan Office Class A 17.17 3.29 20.46 8.7 % -2.25 %
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 6.08 28.22 12.44 % -2.09 %
Midtown South Manhattan Office Class A 1.21 0.1 1.31 8.73 % abc 0.0 %
Downtown Manhattan Office Class A 15.01 1.12 16.13 18.35 % -1.97 %
Total Manhattan Office Class A 38.36 7.31 45.67 % -0.85 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 20.92 million RSF to 20.45 million RSF.
  • Total Manhattan Office Market vacancies decreased from 32.32 million RSF to 31.24 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.81 3.29 20.1 8.0 % -3.15 %
Midtown South Manhattan Office 4.25 0.14 4.39 5.9 % -2.55 %
Downtown Manhattan Office 6.1 0.65 6.75 6.7 % -5.01 %
Total Manhattan Office 27.17 4.07 31.24 7.3 % -3.47 %
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 29.94 7.24 37.18 11.31 % -3.15 %
Midtown South Manhattan Office 8.34 1.13 9.47 9.01 % abc -2.55 %
Downtown Manhattan Office 18.46 1.62 20.08 15.16 % -2.52 %
Total Manhattan Office 56.73 10.0 66.73 % -0.63 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 27.92 million RSF to 27.17 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.4 million RSF to 4.07 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 32.32 million RSF to 31.24 million RSF
  • Total Midtown Office vacancy decreased from 20.73 million RSF to 20.1 million RSF
  • Total Midtown South Office vacancy decreased from 4.5 million RSF to 4.39 million RSF
  • Total Downtown Office vacancy decreased from 7.09 million RSF to 6.75 million RSF



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