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November 2009

November 2009 » Market Analysis » New York Office Report

November 2009 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 12.44 3.58 16.02 8.5 % 1.58 %
Midtown South Manhattan Office Class A 0.95 0.01 0.96 11.7 % 20.75 %
Downtown Manhattan Office Class A 2.9 1.56 4.46 7.2 % 1.19 %
Total Manhattan Office Class A 16.3 5.15 21.45 8.4 % 2.36 %
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 23.23 9.83 33.06 14.58 % 1.58 %
Midtown South Manhattan Office Class A 2.06 0.29 2.35 15.36 % abc 20.75 %
Downtown Manhattan Office Class A 12.76 2.41 15.17 18.82 % 0.98 %
Total Manhattan Office Class A 38.05 12.53 50.58 % -0.79 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.94 million RSF to 21.45 million RSF
  • Total Manhattan Office Market vacancies increased from 33.88 million RSF to 34.41 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.23 3.97 21.21 7.6 % 1.81 %
Midtown South Manhattan Office 6.07 0.72 6.79 7.9 % 1.84 %
Downtown Manhattan Office 4.68 1.74 6.42 7.2 % 0.45 %
Total Manhattan Office 27.98 6.43 34.41 7.6 % 1.56 %
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 31.85 11.69 43.53 13.05 % 1.81 %
Midtown South Manhattan Office 10.5 2.37 12.88 12.2 % abc 1.84 %
Downtown Manhattan Office 16.97 2.88 19.85 16.76 % 0.85 %
Total Manhattan Office 59.32 16.94 76.26 % -1.07 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.44 million RSF to 27.98 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.44 million RSF to 6.43 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.88 million RSF to 34.41 million RSF.
  • Total Midtown Office vacancy increased from 20.82 million RSF to 21.21 million RSF.
  • Total Midtown South Office vacancy increased from 6.67 million RSF to 6.79 million RSF.
  • Total Downtown Office vacancy increased from 6.39 million RSF to 6.42 million RSF.



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