New York City office
and retail Market Research

March 2011 » Market Analysis » New York Office Report

February 2011

March 2011 New York Real Estate Graphs and Statistics

Page 7

April 2011

March 7, 2011

NYC Office Space Graphs and Statistics

	Direct	Sublease	Total	% Vacant	% Monthly Change
NEW YORK CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet)
Midtown Manhattan Office Class A	13.87	1.83	15.7	9.0 %	0.13 %
Midtown South Manhattan Office Class A	0.79	0.09	0.88	11.0 %	2.26 %
Downtown Manhattan Office Class A	5.51	0.82	6.33	9.1 %	0.95 %
Total Manhattan Office Class A	20.17	2.74	22.91	9.1 %	0.44 %
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	22.14	6.75	28.89	12.8 %	0.13 %
Midtown South Manhattan Office Class A	1.43	0.17	1.6	10.64 % abc	2.26 %
Downtown Manhattan Office Class A	14.96	1.46	16.42	18.49 %	0.26 %
Total Manhattan Office Class A	38.53	8.38	46.91	%	2.19 %

Manhattan Class A Office Vacancies

Total Manhattan Office Class A vacancies increased from 22.81 million RSF to 22.91 million RSF
Total Manhattan Office Market vacancies increased from 35.82 million RSF to 35.93 million RSF

	Direct	Sublease	Total	% Vacant	% Monthly Change
NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
Midtown Manhattan Office	18.89	2.05	20.94	8.1 %	0.61 %
Midtown South Manhattan Office	5.69	0.52	6.2	7.6 %	-1.29 %
Downtown Manhattan Office	7.86	0.94	8.79	8.0 %	0.73 %
Total Manhattan Office	32.43	3.5	35.93	8.0 %	0.31 %
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	31.1	7.91	39.01	11.92 %	0.61 %
Midtown South Manhattan Office	8.96	1.23	10.19	9.77 % abc	-1.29 %
Downtown Manhattan Office	19.3	1.85	21.15	15.72 %	0.5 %
Total Manhattan Office	59.35	10.99	70.34	%	2.19 %

Manhattan Office Vacancy Market

Total Manhattan Office direct lease vacancy increased from 32.37 million RSF to 32.43 million RSF.
Manhattan Office Sublease vacancy increased from 3.45 million RSF to 3.5 million RSF.

Manhattan Office Rent Vacancy by Area

Total Manhattan Office Market vacancy increased from 35.82 million RSF to 35.93 million RSF.
Total Midtown Office vacancy increased from 20.81 million RSF to 20.94 million RSF.
Total Midtown South Office vacancy decreased from 6.28 million RSF to 6.2 million RSF
Total Downtown Office vacancy increased from 8.73 million RSF to 8.79 million RSF.

Page 7

Find My Space!