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September 2012

September 2012 » Market Analysis » New York Office Report

September 2012 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 12.85 3.03 15.87 9.2 % 1.81 %
Midtown South Manhattan Office Class A 0.67 0.04 0.71 8.4 % -24.96 %
Downtown Manhattan Office Class A 4.84 0.46 5.3 7.9 % 12.91 %
Total Manhattan Office Class A 18.36 3.52 21.88 8.9 % 3.63 %
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 21.63 6.21 27.83 12.39 % 1.81 %
Midtown South Manhattan Office Class A 1.41 0.09 1.5 9.93 % abc -24.96 %
Downtown Manhattan Office Class A 16.05 1.27 17.33 19.38 % -1.51 %
Total Manhattan Office Class A 39.09 7.57 46.66 % -2.22 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 21.09 million RSF to 21.88 million RSF
  • Total Manhattan Office Market vacancies increased from 31.54 million RSF to 32.44 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 17.71 3.41 21.12 8.3 % 2.27 %
Midtown South Manhattan Office 3.53 0.29 3.82 5.3 % -7.71 %
Downtown Manhattan Office 6.68 0.81 7.5 7.3 % 9.6 %
Total Manhattan Office 27.93 4.51 32.44 7.5 % 2.79 %
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 29.92 7.51 37.44 11.41 % 2.27 %
Midtown South Manhattan Office 7.05 1.15 8.19 7.94 % abc -7.71 %
Downtown Manhattan Office 19.45 1.9 21.34 15.95 % -1.23 %
Total Manhattan Office 56.42 10.55 66.97 % -1.74 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 27.26 million RSF to 27.93 million RSF.
  • Manhattan Office Sublease vacancy increased from 4.27 million RSF to 4.51 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 31.54 million RSF to 32.44 million RSF.
  • Total Midtown Office vacancy increased from 20.64 million RSF to 21.12 million RSF.
  • Total Midtown South Office vacancy decreased from 4.12 million RSF to 3.82 million RSF
  • Total Downtown Office vacancy increased from 6.78 million RSF to 7.5 million RSF.



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