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January 2011

January 2011 » Market Analysis » New York Office Report

January 2011 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 13.78 1.88 15.66 9.1 % -2.68 %
Midtown South Manhattan Office Class A 0.83 0.11 0.94 11.2 % -2.98 %
Downtown Manhattan Office Class A 4.49 1.02 5.51 7.9 % -3.5 %
Total Manhattan Office Class A 19.09 3.01 22.11 8.9 % -2.9 %
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 21.65 6.44 28.09 12.67 % -2.68 %
Midtown South Manhattan Office Class A 1.52 0.22 1.74 11.52 % abc -2.98 %
Downtown Manhattan Office Class A 15.07 1.69 16.76 18.71 % -0.3 %
Total Manhattan Office Class A 38.24 8.35 46.59 % -1.46 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 22.75 million RSF to 22.11 million RSF.
  • Total Manhattan Office Market vacancies decreased from 35.8 million RSF to 34.87 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.73 2.06 20.8 8.1 % -2.5 %
Midtown South Manhattan Office 5.56 0.56 6.12 7.6 % -4.66 %
Downtown Manhattan Office 6.8 1.16 7.96 7.4 % -1.57 %
Total Manhattan Office 31.09 3.78 34.87 7.8 % -2.66 %
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 7.63 37.54 11.65 % -2.5 %
Midtown South Manhattan Office 9.17 1.3 10.47 10.02 % abc -4.66 %
Downtown Manhattan Office 19.42 2.11 21.53 16.05 % -0.32 %
Total Manhattan Office 58.51 11.04 69.55 % -1.86 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 31.64 million RSF to 31.09 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.15 million RSF to 3.78 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 35.8 million RSF to 34.87 million RSF
  • Total Midtown Office vacancy decreased from 21.32 million RSF to 20.8 million RSF
  • Total Midtown South Office vacancy decreased from 6.4 million RSF to 6.12 million RSF
  • Total Downtown Office vacancy decreased from 8.08 million RSF to 7.96 million RSF



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