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January 2012

January 2012 » Market Analysis » New York Office Report

January 2012 Manhattan 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 12.17 2.13 14.3 8.4 % -4.31 %
Midtown South Manhattan Office Class A 0.48 0.02 0.5 8.7 % 5.21 %
Downtown Manhattan Office Class A 4.61 0.3 4.91 8.9 % -10.0 %
Total Manhattan Office Class A 17.26 2.45 19.71 8.5 % -5.49 %
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 22.21 5.63 27.84 12.31 % -4.31 %
Midtown South Manhattan Office Class A 1.52 0.08 1.6 10.41 % abc 5.21 %
Downtown Manhattan Office Class A 16.64 0.99 17.63 19.44 % -1.32 %
Total Manhattan Office Class A 40.38 6.69 47.07 % -1.36 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 20.79 million RSF to 19.71 million RSF.
  • Total Manhattan Office Market vacancies decreased from 33.08 million RSF to 31.01 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.95 2.38 19.33 7.5 % -4.4 %
Midtown South Manhattan Office 3.91 0.27 4.19 5.7 % -16.88 %
Downtown Manhattan Office 7.02 0.46 7.49 8.1 % -6.87 %
Total Manhattan Office 27.89 3.12 31.01 7.3 % -6.68 %
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 31.1 6.97 38.07 11.57 % -4.4 %
Midtown South Manhattan Office 7.58 0.92 8.5 8.23 % abc -16.88 %
Downtown Manhattan Office 20.58 1.58 22.16 16.45 % -1.08 %
Total Manhattan Office 59.27 9.46 68.73 % -2.19 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 29.81 million RSF to 27.89 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.26 million RSF to 3.12 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.08 million RSF to 31.01 million RSF
  • Total Midtown Office vacancy decreased from 20.18 million RSF to 19.33 million RSF
  • Total Midtown South Office vacancy decreased from 4.89 million RSF to 4.19 million RSF
  • Total Downtown Office vacancy decreased from 8.0 million RSF to 7.49 million RSF



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