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November 2012

November 2012 » Market Analysis » New York Office Report

November 2012 Manhattan 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 12.29 3.08 15.37 9.4 % -3.63 %
Midtown South Manhattan Office Class A 0.67 0.0 0.67 9.2 % -3.59 %
Downtown Manhattan Office Class A 3.75 0.46 4.22 7.7 % -26.12 %
Total Manhattan Office Class A 16.72 3.54 20.26 8.9 % -8.31 %
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 21.75 6.53 28.28 12.51 % -3.63 %
Midtown South Manhattan Office Class A 1.51 0.04 1.54 10.17 % abc -3.59 %
Downtown Manhattan Office Class A 15.51 1.29 16.81 18.86 % -2.01 %
Total Manhattan Office Class A 38.77 7.86 46.63 % 0.0 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 21.94 million RSF to 20.26 million RSF.
  • Total Manhattan Office Market vacancies decreased from 33.3 million RSF to 31.23 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.81 3.46 20.27 8.3 % -4.04 %
Midtown South Manhattan Office 4.39 0.22 4.61 6.1 % -2.56 %
Downtown Manhattan Office 5.65 0.71 6.36 7.1 % -17.83 %
Total Manhattan Office 26.85 4.39 31.23 7.6 % -6.63 %
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 30.1 7.84 37.94 11.51 % -4.04 %
Midtown South Manhattan Office 7.93 1.05 8.98 8.59 % abc -2.56 %
Downtown Manhattan Office 19.05 1.81 20.86 15.56 % -1.69 %
Total Manhattan Office 57.08 10.7 67.79 % -0.63 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 28.88 million RSF to 26.85 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.42 million RSF to 4.39 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.3 million RSF to 31.23 million RSF
  • Total Midtown Office vacancy decreased from 21.09 million RSF to 20.27 million RSF
  • Total Midtown South Office vacancy decreased from 4.72 million RSF to 4.61 million RSF
  • Total Downtown Office vacancy decreased from 7.5 million RSF to 6.36 million RSF



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