market research

March 2010

March 2010 » Market Analysis » New York Office Report

March 2010 New York 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 13.38 3.46 16.84 9.2 % 0.25 %
Midtown South Manhattan Office Class A 0.98 0.07 1.05 7.7 % 2.86 %
Downtown Manhattan Office Class A 3.54 1.26 4.8 7.4 % 4.54 %
Total Manhattan Office Class A 17.89 4.79 22.69 8.7 % 1.28 %
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 22.49 9.09 31.58 14.14 % 0.25 %
Midtown South Manhattan Office Class A 1.45 0.39 1.84 12.58 % abc 2.86 %
Downtown Manhattan Office Class A 13.32 2.08 15.4 18.36 % -0.28 %
Total Manhattan Office Class A 37.26 11.56 48.82 % -1.35 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 22.4 million RSF to 22.69 million RSF
  • Total Manhattan Office Market vacancies increased from 35.68 million RSF to 36.22 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.54 3.94 22.48 8.2 % 0.97 %
Midtown South Manhattan Office 6.06 0.65 6.71 7.4 % 0.1 %
Downtown Manhattan Office 5.57 1.45 7.02 7.1 % 4.52 %
Total Manhattan Office 30.17 6.05 36.22 7.8 % 1.5 %
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 31.45 11.0 42.45 12.9 % 0.97 %
Midtown South Manhattan Office 9.9 2.11 12.01 11.4 % abc 0.1 %
Downtown Manhattan Office 17.59 2.52 20.11 16.56 % -0.1 %
Total Manhattan Office 58.94 15.64 74.58 % -1.1 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.77 million RSF to 30.17 million RSF.
  • Manhattan Office Sublease vacancy increased from 5.91 million RSF to 6.05 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 35.68 million RSF to 36.22 million RSF.
  • Total Midtown Office vacancy increased from 22.27 million RSF to 22.48 million RSF.
  • Total Midtown South Office vacancy increased from 6.71 million RSF to 6.71 million RSF.
  • Total Downtown Office vacancy increased from 6.7 million RSF to 7.02 million RSF.



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building