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August 2008 » 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 | 7.14 | 1.55 | 8.69 | 5.6 % | 0.67 % |
| Midtown South Manhattan Office Class A | 0.07 | 0.02 | 0.08 | 9.4 % | -82.14 % |
| Downtown Manhattan Office Class A | 2.26 | 1.32 | 3.58 | 5.7 % | -2.82 % |
| Total Manhattan Office Class A | 9.47 | 2.88 | 12.35 | 5.8 % | -0.91 % |
| 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 | 17.41 | 4.37 | 21.78 | 9.9 % | 0.67 % |
| Midtown South Manhattan Office Class A | 0.87 | 0.07 | 0.94 | 6.43 % abc | -82.14 % |
| Downtown Manhattan Office Class A | 4.02 | 1.78 | 5.8 | 8.06 % | 2.67 % |
| Total Manhattan Office Class A | 22.3 | 6.21 | 28.52 | % | -0.18 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 12.46 million RSF to 12.35 million RSF.
- Total Manhattan Office Market vacancies decreased from 23.06 million RSF to 22.52 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 10.38 | 1.99 | 12.37 | 5.3 % | 1.41 % |
| Midtown South Manhattan Office | 4.03 | 0.33 | 4.36 | 6.6 % | -0.94 % |
| Downtown Manhattan Office | 4.24 | 1.54 | 5.79 | 6.4 % | -11.72 % |
| Total Manhattan Office | 18.65 | 3.86 | 22.52 | 5.8 % | -2.42 % |
| 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 | 22.69 | 5.45 | 28.14 | 8.76 % | 1.41 % |
| Midtown South Manhattan Office | 6.81 | 0.99 | 7.81 | 7.86 % abc | -0.94 % |
| Downtown Manhattan Office | 7.42 | 2.17 | 9.6 | 8.73 % | -4.38 % |
| Total Manhattan Office | 36.92 | 8.62 | 45.54 | % | -0.89 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 19.12 million RSF to 18.65 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.94 million RSF to 3.86 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 23.06 million RSF to 22.52 million RSF
- Total Midtown Office vacancy increased from 12.19 million RSF to 12.37 million RSF.
- Total Midtown South Office vacancy decreased from 4.4 million RSF to 4.36 million RSF
- Total Downtown Office vacancy decreased from 6.46 million RSF to 5.79 million RSF
