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June 2012

June 2012 » Market Analysis » New York Office Report

June 2012 Manhattan 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 12.37 2.46 14.83 8.2 % 0.92 %
Midtown South Manhattan Office Class A 0.45 0.02 0.47 8.5 % -1.28 %
Downtown Manhattan Office Class A 4.09 0.41 4.5 8.1 % 1.62 %
Total Manhattan Office Class A 16.91 2.89 19.8 8.2 % 1.03 %
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 21.8 6.21 28.0 12.38 % 0.92 %
Midtown South Manhattan Office Class A 1.8 0.09 1.89 12.06 % abc -1.28 %
Downtown Manhattan Office Class A 15.55 1.3 16.86 18.83 % 0.93 %
Total Manhattan Office Class A 39.15 7.6 46.75 % -0.4 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 19.6 million RSF to 19.8 million RSF
  • Total Manhattan Office Market vacancies decreased from 30.53 million RSF to 30.47 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.12 2.84 19.96 7.5 % 0.45 %
Midtown South Manhattan Office 3.57 0.29 3.86 5.3 % -2.98 %
Downtown Manhattan Office 5.88 0.77 6.65 7.5 % -0.47 %
Total Manhattan Office 26.57 3.9 30.47 7.1 % -0.19 %
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 30.33 7.53 37.86 11.48 % 0.45 %
Midtown South Manhattan Office 7.75 0.99 8.74 8.35 % abc -2.98 %
Downtown Manhattan Office 18.9 2.04 20.94 15.73 % -0.1 %
Total Manhattan Office 56.98 10.57 67.54 % -0.9 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 26.73 million RSF to 26.57 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.8 million RSF to 3.9 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 30.53 million RSF to 30.47 million RSF
  • Total Midtown Office vacancy increased from 19.87 million RSF to 19.96 million RSF.
  • Total Midtown South Office vacancy decreased from 3.97 million RSF to 3.86 million RSF
  • Total Downtown Office vacancy decreased from 6.68 million RSF to 6.65 million RSF



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