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October 2010

October 2010 » Market Analysis » New York Office Report

October 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 14.83 2.45 17.28 9.6 % 2.25 %
Midtown South Manhattan Office Class A 0.89 0.17 1.06 1.16 % 15.25 %
Downtown Manhattan Office Class A 4.61 1.21 5.82 8.7 % -0.72 %
Total Manhattan Office Class A 20.33 3.83 24.15 9.5 % 2.1 %
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 21.8 7.6 29.4 13.3 % 2.25 %
Midtown South Manhattan Office Class A 1.97 0.35 2.32 14.9 % abc 15.25 %
Downtown Manhattan Office Class A 15.08 1.93 17.01 20.32 % 1.24 %
Total Manhattan Office Class A 38.85 9.88 48.73 % 0.34 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 23.65 million RSF to 24.15 million RSF
  • Total Manhattan Office Market vacancies decreased from 37.46 million RSF to 37.07 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.44 2.72 22.16 8.5 % -0.37 %
Midtown South Manhattan Office 5.87 0.76 6.63 7.8 % 1.51 %
Downtown Manhattan Office 6.9 1.38 8.28 8.3 % -4.88 %
Total Manhattan Office 32.22 4.86 37.07 8.3 % -1.04 %
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 30.52 8.88 39.4 12.17 % -0.37 %
Midtown South Manhattan Office 9.88 1.58 11.46 10.88 % abc 1.51 %
Downtown Manhattan Office 19.47 2.32 21.79 17.92 % 0.67 %
Total Manhattan Office 59.87 12.78 72.65 % -0.1 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 32.04 million RSF to 32.22 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.42 million RSF to 4.86 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 37.46 million RSF to 37.07 million RSF
  • Total Midtown Office vacancy decreased from 22.24 million RSF to 22.16 million RSF
  • Total Midtown South Office vacancy increased from 6.53 million RSF to 6.63 million RSF.
  • Total Downtown Office vacancy decreased from 8.69 million RSF to 8.28 million RSF



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