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September 2009

September 2009 » Market Analysis » New York Office Report

September 2009 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 12.05 3.82 15.88 8.7 % -1.18 %
Midtown South Manhattan Office Class A 0.76 0.03 0.78 10.5 % 9.62 %
Downtown Manhattan Office Class A 2.21 1.62 3.83 6.1 % 3.47 %
Total Manhattan Office Class A 15.02 5.47 20.49 8.1 % 0.1 %
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 22.89 10.02 32.91 14.81 % -1.18 %
Midtown South Manhattan Office Class A 1.99 0.25 2.24 14.52 % abc 9.62 %
Downtown Manhattan Office Class A 11.81 2.41 14.21 18.08 % -0.18 %
Total Manhattan Office Class A 36.69 12.67 49.36 % -1.17 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 20.47 million RSF to 20.49 million RSF
  • Total Manhattan Office Market vacancies increased from 33.76 million RSF to 33.91 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.55 4.24 20.79 7.6 % -0.89 %
Midtown South Manhattan Office 5.92 0.78 6.7 7.7 % 2.36 %
Downtown Manhattan Office 4.61 1.8 6.41 7.1 % 2.71 %
Total Manhattan Office 27.08 6.83 33.91 7.5 % 0.43 %
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 31.43 11.98 43.41 13.21 % -0.89 %
Midtown South Manhattan Office 10.82 2.42 13.24 12.59 % abc 2.36 %
Downtown Manhattan Office 16.5 2.97 19.47 16.55 % -0.09 %
Total Manhattan Office 58.75 17.37 76.12 % -0.54 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 26.81 million RSF to 27.08 million RSF.
  • Manhattan Office Sublease vacancy decreased from 6.95 million RSF to 6.83 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 33.76 million RSF to 33.91 million RSF.
  • Total Midtown Office vacancy decreased from 20.97 million RSF to 20.79 million RSF
  • Total Midtown South Office vacancy increased from 6.54 million RSF to 6.7 million RSF.
  • Total Downtown Office vacancy increased from 6.24 million RSF to 6.41 million RSF.



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