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August 2007 » Market Analysis » New York Office Report
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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 | 6.51 | 1.55 | 8.06 | 5.2 % | 4.81 % |
| Midtown South Manhattan Office Class A | 0.05 | 0.02 | 0.07 | 6.9 % | 25.35 % |
| Downtown Manhattan Office Class A | 3.64 | 0.41 | 4.05 | 6.8 % | -0.67 % |
| Total Manhattan Office Class A | 10.21 | 1.98 | 12.18 | 5.7 % | 3.11 % |
| 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 | 12.65 | 4.21 | 16.86 | 7.85 % | 4.81 % |
| Midtown South Manhattan Office Class A | 1.05 | 0.05 | 1.11 | 7.56 % abc | 25.35 % |
| Downtown Manhattan Office Class A | 4.95 | 0.99 | 5.95 | 8.36 % | -5.18 % |
| Total Manhattan Office Class A | 18.66 | 5.25 | 23.91 | % | -3.12 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 11.8 million RSF to 12.18 million RSF
- Total Manhattan Office Market vacancies increased from 20.51 million RSF to 20.68 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.52 | 1.86 | 11.38 | 4.9 % | 2.69 % |
| Midtown South Manhattan Office | 2.63 | 0.3 | 2.94 | 4.8 % | -4.94 % |
| Downtown Manhattan Office | 5.71 | 0.65 | 6.36 | 7.4 % | 0.16 % |
| Total Manhattan Office | 17.86 | 2.82 | 20.68 | 5.4 % | 0.83 % |
| 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 | 18.31 | 5.16 | 23.47 | 7.51 % | 2.69 % |
| Midtown South Manhattan Office | 6.66 | 0.83 | 7.49 | 7.62 % abc | -4.94 % |
| Downtown Manhattan Office | 8.36 | 1.38 | 9.74 | 9.0 % | -1.9 % |
| Total Manhattan Office | 33.33 | 7.37 | 40.7 | % | -2.46 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 17.68 million RSF to 17.86 million RSF.
- Manhattan Office Sublease vacancy decreased from 2.83 million RSF to 2.82 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 20.51 million RSF to 20.68 million RSF.
- Total Midtown Office vacancy increased from 11.07 million RSF to 11.38 million RSF.
- Total Midtown South Office vacancy decreased from 3.08 million RSF to 2.94 million RSF
- Total Downtown Office vacancy increased from 6.35 million RSF to 6.36 million RSF.
