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March 2012 » Market Analysis » New York Office Report
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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 | 12.33 | 2.17 | 14.5 | 8.4 % | 0.08 % |
| Midtown South Manhattan Office Class A | 0.48 | 0.02 | 0.5 | 8.5 % | 0.0 % |
| Downtown Manhattan Office Class A | 4.42 | 0.28 | 4.7 | 7.7 % | -2.87 % |
| Total Manhattan Office Class A | 17.23 | 2.48 | 19.7 | 8.3 % | -0.62 % |
| 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 | 5.92 | 28.06 | 12.4 % | 0.08 % |
| Midtown South Manhattan Office Class A | 1.51 | 0.09 | 1.6 | 10.42 % abc | 0.0 % |
| Downtown Manhattan Office Class A | 16.0 | 0.92 | 16.92 | 18.78 % | -1.42 % |
| Total Manhattan Office Class A | 39.65 | 6.93 | 46.58 | % | -0.47 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 19.83 million RSF to 19.7 million RSF.
- Total Manhattan Office Market vacancies decreased from 31.16 million RSF to 30.97 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.19 | 2.44 | 19.63 | 7.6 % | 0.06 % |
| Midtown South Manhattan Office | 3.77 | 0.22 | 4.0 | 5.5 % | -4.45 % |
| Downtown Manhattan Office | 6.67 | 0.67 | 7.35 | 7.4 % | -0.23 % |
| Total Manhattan Office | 27.64 | 3.33 | 30.97 | 7.2 % | -0.59 % |
| 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 | 30.86 | 7.27 | 38.13 | 11.58 % | 0.06 % |
| Midtown South Manhattan Office | 7.37 | 0.84 | 8.21 | 7.93 % abc | -4.45 % |
| Downtown Manhattan Office | 19.81 | 1.7 | 21.52 | 15.95 % | -0.67 % |
| Total Manhattan Office | 58.04 | 9.81 | 67.85 | % | -0.78 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 28.1 million RSF to 27.64 million RSF.
- Manhattan Office Sublease vacancy increased from 3.06 million RSF to 3.33 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 31.16 million RSF to 30.97 million RSF
- Total Midtown Office vacancy increased from 19.62 million RSF to 19.63 million RSF.
- Total Midtown South Office vacancy decreased from 4.17 million RSF to 4.0 million RSF
- Total Downtown Office vacancy decreased from 7.36 million RSF to 7.35 million RSF
