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May 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 | 12.21 | 2.49 | 14.7 | 8.3 % | 1.07 % |
| Midtown South Manhattan Office Class A | 0.46 | 0.02 | 0.47 | 8.5 % | -2.95 % |
| Downtown Manhattan Office Class A | 4.08 | 0.35 | 4.43 | 8.0 % | -4.43 % |
| Total Manhattan Office Class A | 16.74 | 2.86 | 19.6 | 8.3 % | -0.27 % |
| 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 | 22.03 | 6.28 | 28.31 | 12.49 % | 1.07 % |
| Midtown South Manhattan Office Class A | 1.85 | 0.09 | 1.94 | 12.31 % abc | -2.95 % |
| Downtown Manhattan Office Class A | 15.46 | 1.24 | 16.7 | 18.71 % | 2.75 % |
| Total Manhattan Office Class A | 39.34 | 7.6 | 46.94 | % | 1.03 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 19.65 million RSF to 19.6 million RSF.
- Total Manhattan Office Market vacancies decreased from 31.14 million RSF to 30.53 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 17.11 | 2.77 | 19.87 | 7.6 % | 0.54 % |
| Midtown South Manhattan Office | 3.68 | 0.29 | 3.97 | 5.6 % | -5.46 % |
| Downtown Manhattan Office | 5.95 | 0.74 | 6.68 | 7.5 % | -7.45 % |
| Total Manhattan Office | 26.73 | 3.8 | 30.53 | 7.2 % | -1.99 % |
| 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 | 30.79 | 7.6 | 38.4 | 11.63 % | 0.54 % |
| Midtown South Manhattan Office | 7.86 | 0.93 | 8.8 | 8.42 % abc | -5.46 % |
| Downtown Manhattan Office | 18.94 | 2.02 | 20.96 | 15.77 % | -2.55 % |
| Total Manhattan Office | 57.6 | 10.55 | 68.15 | % | -1.01 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 27.63 million RSF to 26.73 million RSF.
- Manhattan Office Sublease vacancy increased from 3.5 million RSF to 3.8 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 31.14 million RSF to 30.53 million RSF
- Total Midtown Office vacancy increased from 19.77 million RSF to 19.87 million RSF.
- Total Midtown South Office vacancy decreased from 4.19 million RSF to 3.97 million RSF
- Total Downtown Office vacancy decreased from 7.18 million RSF to 6.68 million RSF
