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July 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 | 13.29 | 2.53 | 15.81 | 8.2 % | 6.19 % |
| Midtown South Manhattan Office Class A | 0.45 | 0.02 | 0.46 | 8.3 % | -1.3 % |
| Downtown Manhattan Office Class A | 4.03 | 0.4 | 4.44 | 8.0 % | -1.47 % |
| Total Manhattan Office Class A | 17.77 | 2.95 | 20.71 | 8.2 % | 4.38 % |
| 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 | 22.8 | 6.16 | 28.96 | 12.81 % | 6.19 % |
| Midtown South Manhattan Office Class A | 1.76 | 0.11 | 1.87 | 11.92 % abc | -1.3 % |
| Downtown Manhattan Office Class A | 16.33 | 1.36 | 17.69 | 19.54 % | 4.7 % |
| Total Manhattan Office Class A | 40.89 | 7.63 | 48.52 | % | 3.64 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 19.8 million RSF to 20.71 million RSF
- Total Manhattan Office Market vacancies increased from 30.47 million RSF to 31.21 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.02 | 2.88 | 20.89 | 7.5 % | 4.46 % |
| Midtown South Manhattan Office | 3.49 | 0.27 | 3.77 | 5.1 % | -2.39 % |
| Downtown Manhattan Office | 5.79 | 0.76 | 6.55 | 7.3 % | -1.51 % |
| Total Manhattan Office | 27.3 | 3.91 | 31.21 | 7.0 % | 2.38 % |
| 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 | 31.3 | 7.46 | 38.76 | 11.7 % | 4.46 % |
| Midtown South Manhattan Office | 7.66 | 1.09 | 8.75 | 8.31 % abc | -2.39 % |
| Downtown Manhattan Office | 19.76 | 2.08 | 21.84 | 16.17 % | 4.12 % |
| Total Manhattan Office | 58.71 | 10.64 | 69.35 | % | 2.61 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 26.57 million RSF to 27.3 million RSF.
- Manhattan Office Sublease vacancy increased from 3.9 million RSF to 3.91 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 30.47 million RSF to 31.21 million RSF.
- Total Midtown Office vacancy increased from 19.96 million RSF to 20.89 million RSF.
- Total Midtown South Office vacancy decreased from 3.86 million RSF to 3.77 million RSF
- Total Downtown Office vacancy decreased from 6.65 million RSF to 6.55 million RSF
