market research

September 2011

September 2011 » Market Analysis » New York Office Report

September 2011 NYC 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 12.0 2.02 14.02 8.5 % -6.5 %
Midtown South Manhattan Office Class A 0.51 0.07 0.58 7.4 % -0.52 %
Downtown Manhattan Office Class A 4.99 0.39 5.38 9.7 % 5.41 %
Total Manhattan Office Class A 17.5 2.47 19.98 8.7 % -3.12 %
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 19.49 6.21 25.7 11.39 % -6.5 %
Midtown South Manhattan Office Class A 1.46 0.07 1.53 10.26 % abc -0.52 %
Downtown Manhattan Office Class A 16.3 1.07 17.36 19.46 % 1.99 %
Total Manhattan Office Class A 37.24 7.35 44.59 % -0.38 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 20.6 million RSF to 19.98 million RSF.
  • Total Manhattan Office Market vacancies decreased from 33.67 million RSF to 32.69 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 16.96 2.27 19.24 7.7 % -5.34 %
Midtown South Manhattan Office 4.97 0.4 5.37 6.7 % -4.44 %
Downtown Manhattan Office 7.54 0.54 8.08 8.6 % 3.48 %
Total Manhattan Office 29.47 3.22 32.69 7.7 % -3.01 %
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 28.66 7.46 36.12 11.05 % -5.34 %
Midtown South Manhattan Office 8.23 0.93 9.16 8.85 % abc -4.44 %
Downtown Manhattan Office 20.67 1.68 22.34 16.67 % 1.04 %
Total Manhattan Office 57.56 10.06 67.62 % -0.85 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 30.41 million RSF to 29.47 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.27 million RSF to 3.22 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 33.67 million RSF to 32.69 million RSF
  • Total Midtown Office vacancy decreased from 20.27 million RSF to 19.24 million RSF
  • Total Midtown South Office vacancy decreased from 5.6 million RSF to 5.37 million RSF
  • Total Downtown Office vacancy increased from 7.8 million RSF to 8.08 million RSF.



  • Green Acres Is the Place for Macerich
  • Billionaire Shows How Small Buildings in NYC Can Mean Big Money
  • Optimal Spaces in the News - New York's Pix11 / Wpix-Tv
  • Fighting rubber ruler measurements
  • Manhattan's Low-Rent Dining in Hiding
  • The NY Fed Is Buying Its Own Building