market research

June 2009

June 2009 » Market Analysis » New York Office Report

June 2009 New York 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 10.99 3.65 14.65 8.1 % -0.87 %
Midtown South Manhattan Office Class A 0.68 0.03 0.71 10.1 % -8.18 %
Downtown Manhattan Office Class A 2.08 1.48 3.56 5.8 % -3.26 %
Total Manhattan Office Class A 13.75 5.16 18.91 7.6 % -1.59 %
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 22.59 10.85 33.44 14.81 % -0.87 %
Midtown South Manhattan Office Class A 1.3 0.27 1.57 10.55 % abc -8.18 %
Downtown Manhattan Office Class A 12.15 2.32 14.47 17.98 % 2.29 %
Total Manhattan Office Class A 36.04 13.44 49.48 % 1.48 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 19.21 million RSF to 18.91 million RSF.
  • Total Manhattan Office Market vacancies decreased from 31.97 million RSF to 31.92 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 15.49 4.06 19.54 7.1 % -0.12 %
Midtown South Manhattan Office 5.51 0.78 6.28 7.4 % 1.93 %
Downtown Manhattan Office 4.46 1.63 6.09 6.8 % -2.51 %
Total Manhattan Office 25.46 6.46 31.92 7.1 % -0.17 %
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 30.66 12.58 43.24 13.11 % -0.12 %
Midtown South Manhattan Office 9.66 2.44 12.1 11.71 % abc 1.93 %
Downtown Manhattan Office 16.93 2.73 19.66 16.51 % 2.45 %
Total Manhattan Office 57.25 17.75 75.0 % 2.4 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 25.24 million RSF to 25.46 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.73 million RSF to 6.46 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 31.98 million RSF to 31.92 million RSF
  • Total Midtown Office vacancy decreased from 19.57 million RSF to 19.54 million RSF
  • Total Midtown South Office vacancy increased from 6.16 million RSF to 6.28 million RSF.
  • Total Downtown Office vacancy decreased from 6.25 million RSF to 6.09 million RSF



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