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May 2011 » 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 | 13.94 | 2.16 | 16.11 | 9.1 % | 3.25 % |
| Midtown South Manhattan Office Class A | 0.75 | 0.02 | 0.77 | 10.9 % | -15.56 % |
| Downtown Manhattan Office Class A | 5.48 | 0.67 | 6.15 | 9.3 % | -4.83 % |
| Total Manhattan Office Class A | 20.17 | 2.84 | 23.02 | 9.3 % | 0.46 % |
| 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 | 21.82 | 6.3 | 28.12 | 12.61 % | 3.25 % |
| Midtown South Manhattan Office Class A | 1.42 | 0.06 | 1.48 | 9.85 % abc | -15.56 % |
| Downtown Manhattan Office Class A | 15.06 | 1.3 | 16.36 | 18.33 % | -1.61 % |
| Total Manhattan Office Class A | 38.3 | 7.66 | 45.96 | % | -1.07 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 22.91 million RSF to 23.02 million RSF
- Total Manhattan Office Market vacancies decreased from 35.77 million RSF to 35.71 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 18.64 | 2.4 | 21.04 | 8.1 % | 2.11 % |
| Midtown South Manhattan Office | 5.37 | 0.42 | 5.79 | 7.5 % | -2.8 % |
| Downtown Manhattan Office | 8.1 | 0.78 | 8.87 | 8.5 % | -3.96 % |
| Total Manhattan Office | 32.1 | 3.6 | 35.71 | 8.1 % | -0.19 % |
| 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 | 30.77 | 7.4 | 38.17 | 11.75 % | 2.11 % |
| Midtown South Manhattan Office | 8.49 | 1.17 | 9.66 | 9.26 % abc | -2.8 % |
| Downtown Manhattan Office | 19.75 | 1.72 | 21.47 | 16.05 % | -0.74 % |
| Total Manhattan Office | 59.0 | 10.29 | 69.29 | % | -0.96 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 32.33 million RSF to 32.1 million RSF.
- Manhattan Office Sublease vacancy increased from 3.45 million RSF to 3.6 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 35.77 million RSF to 35.71 million RSF
- Total Midtown Office vacancy increased from 20.6 million RSF to 21.04 million RSF.
- Total Midtown South Office vacancy decreased from 5.95 million RSF to 5.79 million RSF
- Total Downtown Office vacancy decreased from 9.22 million RSF to 8.87 million RSF
