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October 2011

October 2011 » Market Analysis » New York Office Report

October 2011 NY 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 12.41 2.02 14.42 8.7 % 2.79 %
Midtown South Manhattan Office Class A 0.58 0.02 0.59 6.1 % 2.7 %
Downtown Manhattan Office Class A 4.96 0.36 5.32 9.9 % -1.13 %
Total Manhattan Office Class A 17.95 2.39 20.33 8.9 % 1.76 %
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 20.84 5.81 26.65 11.89 % 2.79 %
Midtown South Manhattan Office Class A 1.15 0.06 1.21 8.16 % abc 2.7 %
Downtown Manhattan Office Class A 16.55 0.98 17.53 19.59 % 0.96 %
Total Manhattan Office Class A 38.55 6.84 45.39 % 1.76 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 19.98 million RSF to 20.33 million RSF
  • Total Manhattan Office Market vacancies increased from 32.69 million RSF to 32.93 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.29 2.29 19.58 7.8 % 1.75 %
Midtown South Manhattan Office 4.92 0.32 5.24 6.4 % -2.42 %
Downtown Manhattan Office 7.6 0.52 8.11 8.8 % 0.39 %
Total Manhattan Office 29.81 3.13 32.93 7.8 % 0.75 %
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 30.23 7.03 37.26 11.36 % 1.75 %
Midtown South Manhattan Office 7.8 0.96 8.76 8.47 % abc -2.42 %
Downtown Manhattan Office 20.87 1.61 22.48 16.75 % 0.6 %
Total Manhattan Office 58.9 9.6 68.5 % 1.28 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 29.47 million RSF to 29.81 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.22 million RSF to 3.13 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.69 million RSF to 32.93 million RSF.
  • Total Midtown Office vacancy increased from 19.24 million RSF to 19.58 million RSF.
  • Total Midtown South Office vacancy decreased from 5.37 million RSF to 5.24 million RSF
  • Total Downtown Office vacancy increased from 8.08 million RSF to 8.11 million RSF.



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