market research

May 2012

May 2012 » Market Analysis » New York Office Report

May 2012 New York 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 12.21 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



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building