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January 2013

January 2013 » Market Analysis » New York Office Report

January 2013 NY 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 3.21 15.69 9.1 % 0.33 %
Midtown South Manhattan Office Class A 0.35 0.0 0.35 7.8 % -77.43 %
Downtown Manhattan Office Class A 4.47 0.41 4.88 7.8 % 11.43 %
Total Manhattan Office Class A 17.3 3.62 20.92 8.7 % 1.62 %
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 21.8 6.57 28.37 12.55 % 0.33 %
Midtown South Manhattan Office Class A 1.21 0.02 1.23 8.25 % abc -77.43 %
Downtown Manhattan Office Class A 15.34 1.11 16.45 18.68 % -1.7 %
Total Manhattan Office Class A 38.35 7.7 46.05 % -1.68 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.58 million RSF to 20.92 million RSF
  • Total Manhattan Office Market vacancies increased from 31.82 million RSF to 32.32 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.11 3.62 20.73 8.1 % 0.78 %
Midtown South Manhattan Office 4.38 0.12 4.5 6.0 % -4.73 %
Downtown Manhattan Office 6.43 0.66 7.09 6.9 % 7.85 %
Total Manhattan Office 27.92 4.4 32.32 7.4 % 1.56 %
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 29.73 7.71 37.44 11.42 % 0.78 %
Midtown South Manhattan Office 8.2 0.93 9.13 8.73 % abc -4.73 %
Downtown Manhattan Office 18.98 1.61 20.59 15.53 % -1.11 %
Total Manhattan Office 56.91 10.24 67.15 % -0.98 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.3 million RSF to 27.92 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.51 million RSF to 4.4 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 31.82 million RSF to 32.32 million RSF.
  • Total Midtown Office vacancy increased from 20.57 million RSF to 20.73 million RSF.
  • Total Midtown South Office vacancy decreased from 4.72 million RSF to 4.5 million RSF
  • Total Downtown Office vacancy increased from 6.53 million RSF to 7.09 million RSF.



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