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November 2010

November 2010 » Market Analysis » New York Office Report

November 2010 New York Real Estate 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 14.08 2.22 16.3 9.4 % -5.98 %
Midtown South Manhattan Office Class A 0.88 0.13 1.0 1.14 % -5.07 %
Downtown Manhattan Office Class A 4.53 1.25 5.78 8.7 % -0.69 %
Total Manhattan Office Class A 19.49 3.6 23.09 9.3 % -4.62 %
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 21.94 7.17 29.11 13.11 % -5.98 %
Midtown South Manhattan Office Class A 1.98 0.35 2.33 14.88 % abc -5.07 %
Downtown Manhattan Office Class A 15.02 1.88 16.9 20.06 % -0.66 %
Total Manhattan Office Class A 38.94 9.4 48.33 % -0.82 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 24.15 million RSF to 23.09 million RSF.
  • Total Manhattan Office Market vacancies decreased from 37.07 million RSF to 36.38 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.08 2.45 21.53 8.4 % -2.93 %
Midtown South Manhattan Office 5.88 0.68 6.56 7.8 % -1.17 %
Downtown Manhattan Office 6.89 1.4 8.29 8.2 % 0.11 %
Total Manhattan Office 31.85 4.52 36.38 8.2 % -1.92 %
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 30.56 8.36 38.92 12.02 % -2.93 %
Midtown South Manhattan Office 10.02 1.59 11.61 11.0 % abc -1.17 %
Downtown Manhattan Office 19.62 2.28 21.9 17.83 % 0.5 %
Total Manhattan Office 60.2 12.24 72.44 % -0.29 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 32.22 million RSF to 31.85 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.86 million RSF to 4.52 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.07 million RSF to 36.38 million RSF
  • Total Midtown Office vacancy decreased from 22.16 million RSF to 21.53 million RSF
  • Total Midtown South Office vacancy decreased from 6.63 million RSF to 6.56 million RSF
  • Total Downtown Office vacancy increased from 8.28 million RSF to 8.29 million RSF.



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