market research

January 2010

January 2010 » Market Analysis » New York Office Report

January 2010 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 13.0 3.56 16.56 8.9 % 1.04 %
Midtown South Manhattan Office Class A 0.94 0.07 1.01 9.6 % -1.48 %
Downtown Manhattan Office Class A 2.84 1.4 4.25 7.0 % -2.05 %
Total Manhattan Office Class A 16.79 5.04 21.82 8.5 % 0.32 %
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 23.72 9.66 33.38 14.8 % 1.04 %
Midtown South Manhattan Office Class A 2.01 0.45 2.45 16.08 % abc -1.48 %
Downtown Manhattan Office Class A 12.68 2.33 15.01 18.54 % -0.63 %
Total Manhattan Office Class A 38.41 12.44 50.85 % 0.31 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.75 million RSF to 21.82 million RSF
  • Total Manhattan Office Market vacancies increased from 34.89 million RSF to 34.95 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.01 3.96 21.97 8.0 % 1.17 %
Midtown South Manhattan Office 6.04 0.7 6.73 7.5 % -1.6 %
Downtown Manhattan Office 4.66 1.58 6.24 7.1 % -1.49 %
Total Manhattan Office 28.71 6.24 34.95 7.7 % 0.16 %
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 32.7 11.43 44.13 13.31 % 1.17 %
Midtown South Manhattan Office 10.39 2.34 12.73 11.93 % abc -1.6 %
Downtown Manhattan Office 16.91 2.8 19.71 16.53 % -0.36 %
Total Manhattan Office 60.0 16.57 76.57 % -0.21 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 28.59 million RSF to 28.71 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.3 million RSF to 6.24 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 34.89 million RSF to 34.95 million RSF.
  • Total Midtown Office vacancy increased from 21.71 million RSF to 21.97 million RSF.
  • Total Midtown South Office vacancy decreased from 6.84 million RSF to 6.73 million RSF
  • Total Downtown Office vacancy decreased from 6.34 million RSF to 6.24 million RSF



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