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November 2011

November 2011 » Market Analysis » New York Office Report

November 2011 NYC Office 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 12.88 2.07 14.95 8.7 % 3.53 %
Midtown South Manhattan Office Class A 0.52 0.02 0.54 5.9 % -9.81 %
Downtown Manhattan Office Class A 5.06 0.34 5.39 10.0 % 1.39 %
Total Manhattan Office Class A 18.46 2.42 20.88 8.9 % 2.63 %
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 21.92 5.95 27.88 12.4 % 3.53 %
Midtown South Manhattan Office Class A 1.09 0.06 1.15 7.71 % abc -9.81 %
Downtown Manhattan Office Class A 16.47 1.02 17.49 19.47 % -0.23 %
Total Manhattan Office Class A 39.49 7.03 46.52 % 2.43 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.33 million RSF to 20.88 million RSF
  • Total Manhattan Office Market vacancies increased from 32.93 million RSF to 33.38 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.89 2.41 20.3 7.8 % 3.56 %
Midtown South Manhattan Office 4.78 0.32 5.09 6.2 % -2.89 %
Downtown Manhattan Office 7.49 0.5 7.98 8.7 % -1.63 %
Total Manhattan Office 30.16 3.22 33.38 7.7 % 1.33 %
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 30.99 7.27 38.26 11.67 % 3.56 %
Midtown South Manhattan Office 8.01 0.94 8.95 8.61 % abc -2.89 %
Downtown Manhattan Office 20.39 1.62 22.01 16.44 % -2.14 %
Total Manhattan Office 59.39 9.83 69.22 % 1.04 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.81 million RSF to 30.16 million RSF.
  • Manhattan Office Sublease vacancy increased from 3.13 million RSF to 3.22 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.93 million RSF to 33.38 million RSF.
  • Total Midtown Office vacancy increased from 19.58 million RSF to 20.3 million RSF.
  • Total Midtown South Office vacancy decreased from 5.24 million RSF to 5.09 million RSF
  • Total Downtown Office vacancy decreased from 8.11 million RSF to 7.98 million RSF



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