market research

June 2010

June 2010 » Market Analysis » New York Office Report

June 2010 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 12.89 3.01 15.9 9.0 % -3.71 %
Midtown South Manhattan Office Class A 0.72 0.16 0.88 10.3 % -28.96 %
Downtown Manhattan Office Class A 4.71 1.26 5.97 9.1 % 21.28 %
Total Manhattan Office Class A 18.32 4.44 22.76 9.1 % 1.87 %
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 20.85 8.69 29.53 13.31 % -3.71 %
Midtown South Manhattan Office Class A 1.48 0.37 1.85 12.35 % abc -28.96 %
Downtown Manhattan Office Class A 13.25 2.03 15.28 18.52 % 7.08 %
Total Manhattan Office Class A 35.57 11.09 46.66 % -1.22 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.34 million RSF to 22.76 million RSF
  • Total Manhattan Office Market vacancies increased from 35.48 million RSF to 36.21 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.04 3.43 21.47 8.1 % -1.95 %
Midtown South Manhattan Office 5.67 0.81 6.48 7.8 % -2.95 %
Downtown Manhattan Office 6.81 1.46 8.27 8.4 % 16.22 %
Total Manhattan Office 30.52 5.7 36.21 8.1 % 2.02 %
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 29.51 10.23 39.74 12.2 % -1.95 %
Midtown South Manhattan Office 9.72 2.02 11.74 11.18 % abc -2.95 %
Downtown Manhattan Office 17.59 2.66 20.25 16.91 % 6.48 %
Total Manhattan Office 56.83 14.9 71.73 % -0.93 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.82 million RSF to 30.52 million RSF.
  • Manhattan Office Sublease vacancy increased from 5.66 million RSF to 5.7 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 35.48 million RSF to 36.21 million RSF.
  • Total Midtown Office vacancy decreased from 21.89 million RSF to 21.47 million RSF
  • Total Midtown South Office vacancy decreased from 6.67 million RSF to 6.48 million RSF
  • Total Downtown Office vacancy increased from 6.93 million RSF to 8.27 million RSF.



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