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July 2011 » 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 | 12.85 | 1.85 | 14.71 | 9.0 % | -6.23 % |
| Midtown South Manhattan Office Class A | 0.81 | 0.07 | 0.88 | 9.4 % | 3.87 % |
| Downtown Manhattan Office Class A | 4.89 | 0.56 | 5.45 | 8.6 % | -10.53 % |
| Total Manhattan Office Class A | 18.56 | 2.48 | 21.04 | 9.0 % | -6.93 % |
| 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 | 20.39 | 6.48 | 26.87 | 12.02 % | -6.23 % |
| Midtown South Manhattan Office Class A | 1.5 | 0.09 | 1.59 | 10.63 % abc | 3.87 % |
| Downtown Manhattan Office Class A | 15.33 | 1.01 | 16.34 | 18.65 % | -0.42 % |
| Total Manhattan Office Class A | 37.22 | 7.58 | 44.8 | % | -1.77 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 22.49 million RSF to 21.04 million RSF.
- Total Manhattan Office Market vacancies decreased from 35.22 million RSF to 33.39 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.46 | 2.12 | 19.57 | 8.0 % | -5.31 % |
| Midtown South Manhattan Office | 5.23 | 0.4 | 5.63 | 7.0 % | -3.02 % |
| Downtown Manhattan Office | 7.46 | 0.72 | 8.19 | 8.0 % | -7.57 % |
| Total Manhattan Office | 30.15 | 3.24 | 33.39 | 7.8 % | -5.48 % |
| 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 | 29.27 | 7.68 | 36.95 | 11.34 % | -5.31 % |
| Midtown South Manhattan Office | 8.08 | 0.97 | 9.05 | 8.75 % abc | -3.02 % |
| Downtown Manhattan Office | 19.94 | 1.47 | 21.4 | 16.23 % | -0.29 % |
| Total Manhattan Office | 57.29 | 10.12 | 67.41 | % | -1.68 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 31.92 million RSF to 30.15 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.3 million RSF to 3.24 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 35.22 million RSF to 33.39 million RSF
- Total Midtown Office vacancy decreased from 20.61 million RSF to 19.57 million RSF
- Total Midtown South Office vacancy decreased from 5.79 million RSF to 5.63 million RSF
- Total Downtown Office vacancy decreased from 8.81 million RSF to 8.19 million RSF
