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March 2011

March 2011 » Market Analysis » New York Office Report

March 2011 New York 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 13.87 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
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
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.



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