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January 2012 » Market Analysis » New York Office Report
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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
