market research

July 2010

July 2010 » Market Analysis » New York Office Report

July 2010 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 13.72 2.96 16.68 9.2 % 4.65 %
Midtown South Manhattan Office Class A 0.73 0.15 0.88 10.2 % -0.34 %
Downtown Manhattan Office Class A 4.69 1.22 5.92 8.9 % -0.98 %
Total Manhattan Office Class A 19.14 4.33 23.47 9.2 % 3.04 %
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 21.56 8.37 29.94 13.5 % 4.65 %
Midtown South Manhattan Office Class A 2.04 0.39 2.43 15.63 % abc -0.34 %
Downtown Manhattan Office Class A 13.55 1.97 15.52 18.8 % 1.58 %
Total Manhattan Office Class A 37.15 10.74 47.89 % 2.57 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.76 million RSF to 23.47 million RSF
  • Total Manhattan Office Market vacancies increased from 36.21 million RSF to 36.67 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.74 3.25 21.99 8.3 % 2.39 %
Midtown South Manhattan Office 5.72 0.77 6.49 7.7 % 0.22 %
Downtown Manhattan Office 6.76 1.42 8.18 8.2 % -1.08 %
Total Manhattan Office 31.22 5.45 36.67 8.1 % 1.23 %
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 30.52 9.75 40.27 12.43 % 2.39 %
Midtown South Manhattan Office 10.1 1.93 12.04 11.41 % abc 0.22 %
Downtown Manhattan Office 17.84 2.63 20.46 17.02 % 1.04 %
Total Manhattan Office 58.46 14.31 72.77 % 1.44 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 30.52 million RSF to 31.22 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.7 million RSF to 5.45 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 36.21 million RSF to 36.67 million RSF.
  • Total Midtown Office vacancy increased from 21.47 million RSF to 21.99 million RSF.
  • Total Midtown South Office vacancy increased from 6.48 million RSF to 6.49 million RSF.
  • Total Downtown Office vacancy decreased from 8.27 million RSF to 8.18 million RSF



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building