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October 2012

October 2012 » Market Analysis » New York Office Report

October 2012 New York 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 12.91 3.02 15.93 9.3 % 0.33 %
Midtown South Manhattan Office Class A 0.67 0.02 0.69 8.3 % -2.46 %
Downtown Manhattan Office Class A 4.83 0.49 5.32 7.8 % 0.39 %
Total Manhattan Office Class A 18.41 3.53 21.94 8.9 % 0.26 %
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 21.7 6.34 28.04 12.47 % 0.33 %
Midtown South Manhattan Office Class A 1.38 0.07 1.45 9.63 % abc -2.46 %
Downtown Manhattan Office Class A 15.77 1.38 17.14 19.34 % -1.06 %
Total Manhattan Office Class A 38.84 7.79 46.63 % -0.06 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.88 million RSF to 21.94 million RSF
  • Total Manhattan Office Market vacancies increased from 32.44 million RSF to 33.3 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.69 3.4 21.09 8.3 % -0.16 %
Midtown South Manhattan Office 4.42 0.3 4.72 6.0 % 19.05 %
Downtown Manhattan Office 6.77 0.73 7.5 7.2 % -0.03 %
Total Manhattan Office 28.88 4.42 33.3 7.6 % 2.59 %
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 30.33 7.67 38.0 11.57 % -0.16 %
Midtown South Manhattan Office 7.87 1.13 9.0 8.63 % abc 19.05 %
Downtown Manhattan Office 19.32 1.89 21.22 15.88 % -0.6 %
Total Manhattan Office 57.52 10.7 68.22 % 1.83 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.93 million RSF to 28.88 million RSF.
  • Manhattan Office Sublease vacancy decreased from 4.51 million RSF to 4.42 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 32.44 million RSF to 33.3 million RSF.
  • Total Midtown Office vacancy decreased from 21.12 million RSF to 21.09 million RSF
  • Total Midtown South Office vacancy increased from 3.82 million RSF to 4.72 million RSF.
  • Total Downtown Office vacancy decreased from 7.5 million RSF to 7.5 million RSF



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