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May 2009 » 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 | 10.92 | 3.85 | 14.77 | 8.0 % | 2.46 % |
| Midtown South Manhattan Office Class A | 0.73 | 0.03 | 0.77 | 10.3 % | -0.39 % |
| Downtown Manhattan Office Class A | 2.17 | 1.5 | 3.67 | 6.0 % | -0.49 % |
| Total Manhattan Office Class A | 13.83 | 5.38 | 19.21 | 7.6 % | 1.78 % |
| 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 | 22.73 | 10.3 | 33.03 | 14.61 % | 2.46 % |
| Midtown South Manhattan Office Class A | 1.35 | 0.24 | 1.59 | 10.68 % abc | -0.39 % |
| Downtown Manhattan Office Class A | 11.91 | 2.23 | 14.13 | 17.67 % | 0.57 % |
| Total Manhattan Office Class A | 35.99 | 12.77 | 48.75 | % | 2.36 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 18.87 million RSF to 19.21 million RSF
- Total Manhattan Office Market vacancies increased from 31.3 million RSF to 31.97 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 15.3 | 4.27 | 19.57 | 7.3 % | 1.9 % |
| Midtown South Manhattan Office | 5.38 | 0.78 | 6.16 | 7.2 % | 3.57 % |
| Downtown Manhattan Office | 4.56 | 1.69 | 6.25 | 7.0 % | 1.41 % |
| Total Manhattan Office | 25.24 | 6.73 | 31.98 | 7.2 % | 2.13 % |
| 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 | 30.21 | 11.96 | 42.18 | 12.8 % | 1.9 % |
| Midtown South Manhattan Office | 9.51 | 2.33 | 11.84 | 11.49 % abc | 3.57 % |
| Downtown Manhattan Office | 16.54 | 2.64 | 19.18 | 16.18 % | 0.66 % |
| Total Manhattan Office | 56.26 | 16.94 | 73.2 | % | 2.65 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 24.8 million RSF to 25.24 million RSF.
- Manhattan Office Sublease vacancy increased from 6.49 million RSF to 6.73 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 31.3 million RSF to 31.98 million RSF.
- Total Midtown Office vacancy increased from 19.2 million RSF to 19.57 million RSF.
- Total Midtown South Office vacancy increased from 5.94 million RSF to 6.16 million RSF.
- Total Downtown Office vacancy increased from 6.16 million RSF to 6.25 million RSF.
