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July 2011

July 2011 » Market Analysis » New York Office Report

July 2011 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 12.85 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



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