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October 2009

October 2009 » Market Analysis » New York Office Report

October 2009 New York City 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 12.15 3.62 15.77 8.5 % -0.66 %
Midtown South Manhattan Office Class A 0.76 0.01 0.76 10.3 % -2.09 %
Downtown Manhattan Office Class A 2.8 1.61 4.41 6.3 % 13.0 %
Total Manhattan Office Class A 15.71 5.24 20.94 8.2 % 2.16 %
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 23.71 10.09 33.8 15.05 % -0.66 %
Midtown South Manhattan Office Class A 1.92 0.24 2.16 14.09 % abc -2.09 %
Downtown Manhattan Office Class A 12.48 2.54 15.02 18.66 % 5.38 %
Total Manhattan Office Class A 38.11 12.87 50.98 % 3.17 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.49 million RSF to 20.94 million RSF
  • Total Manhattan Office Market vacancies decreased from 33.91 million RSF to 33.88 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.82 4.0 20.82 7.5 % 0.16 %
Midtown South Manhattan Office 6.01 0.66 6.67 7.6 % -0.56 %
Downtown Manhattan Office 4.61 1.78 6.39 7.0 % -0.39 %
Total Manhattan Office 27.44 6.44 33.88 7.4 % -0.08 %
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 32.26 11.95 44.21 13.33 % 0.16 %
Midtown South Manhattan Office 10.7 2.49 13.19 12.53 % abc -0.56 %
Downtown Manhattan Office 16.65 3.04 19.68 16.64 % 1.09 %
Total Manhattan Office 59.61 17.47 77.08 % 1.25 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.08 million RSF to 27.44 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.83 million RSF to 6.44 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.91 million RSF to 33.88 million RSF
  • Total Midtown Office vacancy increased from 20.79 million RSF to 20.82 million RSF.
  • Total Midtown South Office vacancy decreased from 6.7 million RSF to 6.67 million RSF
  • Total Downtown Office vacancy decreased from 6.41 million RSF to 6.39 million RSF



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