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July 2012

July 2012 » Market Analysis » New York Office Report

July 2012 NYC Office Space 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 13.29 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



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