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June 2011

June 2011 » Market Analysis » New York Office Report

June 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 13.66 1.96 15.63 9.0 % -3.08 %
Midtown South Manhattan Office Class A 0.83 0.02 0.84 9.5 % 9.47 %
Downtown Manhattan Office Class A 5.47 0.56 6.02 9.1 % -2.06 %
Total Manhattan Office Class A 19.96 2.54 22.49 9.1 % -2.33 %
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 21.15 6.48 27.64 12.39 % -3.08 %
Midtown South Manhattan Office Class A 1.51 0.04 1.55 10.35 % abc 9.47 %
Downtown Manhattan Office Class A 15.2 1.21 16.4 18.34 % 0.24 %
Total Manhattan Office Class A 37.86 7.73 45.59 % -0.8 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.02 million RSF to 22.49 million RSF.
  • Total Manhattan Office Market vacancies decreased from 35.71 million RSF to 35.22 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.39 2.23 20.61 8.1 % -2.09 %
Midtown South Manhattan Office 5.44 0.36 5.79 7.2 % 0.09 %
Downtown Manhattan Office 8.1 0.71 8.81 8.4 % -0.73 %
Total Manhattan Office 31.92 3.3 35.22 8.0 % -1.39 %
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 30.22 7.62 37.84 11.65 % -2.09 %
Midtown South Manhattan Office 8.2 1.03 9.23 8.91 % abc 0.09 %
Downtown Manhattan Office 19.83 1.64 21.46 16.05 % -0.01 %
Total Manhattan Office 58.24 10.3 68.54 % -1.1 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.1 million RSF to 31.92 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.6 million RSF to 3.3 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 35.71 million RSF to 35.22 million RSF
  • Total Midtown Office vacancy decreased from 21.04 million RSF to 20.61 million RSF
  • Total Midtown South Office vacancy increased from 5.79 million RSF to 5.79 million RSF.
  • Total Downtown Office vacancy decreased from 8.87 million RSF to 8.81 million RSF



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