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March 2012

March 2012 » Market Analysis » New York Office Report

March 2012 NY 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 12.33 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



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