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September 2010

September 2010 » Market Analysis » New York Office Report

September 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 14.01 2.88 16.89 9.7 % -0.08 %
Midtown South Manhattan Office Class A 0.73 0.17 0.9 1.03 % 1.56 %
Downtown Manhattan Office Class A 4.61 1.25 5.86 8.8 % -3.07 %
Total Manhattan Office Class A 19.35 4.3 23.65 9.5 % -0.76 %
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 21.04 8.34 29.38 13.27 % -0.08 %
Midtown South Manhattan Office Class A 2.03 0.36 2.39 15.44 % abc 1.56 %
Downtown Manhattan Office Class A 14.86 1.94 16.8 20.02 % 5.24 %
Total Manhattan Office Class A 37.93 10.64 48.57 % 2.05 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 23.83 million RSF to 23.65 million RSF.
  • Total Manhattan Office Market vacancies increased from 37.31 million RSF to 37.46 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 19.08 3.16 22.24 8.6 % -0.54 %
Midtown South Manhattan Office 5.7 0.83 6.53 7.6 % -0.46 %
Downtown Manhattan Office 7.25 1.43 8.69 8.7 % 3.45 %
Total Manhattan Office 32.04 5.42 37.46 8.5 % 0.4 %
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 29.86 9.59 39.45 12.19 % -0.54 %
Midtown South Manhattan Office 9.96 1.67 11.63 11.05 % abc -0.46 %
Downtown Manhattan Office 19.27 2.37 21.64 17.89 % 3.07 %
Total Manhattan Office 59.09 13.63 72.72 % 0.47 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 31.8 million RSF to 32.04 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.5 million RSF to 5.42 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 37.31 million RSF to 37.46 million RSF.
  • Total Midtown Office vacancy decreased from 22.36 million RSF to 22.24 million RSF
  • Total Midtown South Office vacancy decreased from 6.56 million RSF to 6.53 million RSF
  • Total Downtown Office vacancy increased from 8.38 million RSF to 8.69 million RSF.



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