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February 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 | 6.94 | 1.93 | 8.87 | 5.4 % | -2.1 % |
| Midtown South Manhattan Office Class A | 0.53 | 0.02 | 0.55 | 6.4 % | -5.96 % |
| Downtown Manhattan Office Class A | 4.03 | 0.5 | 4.53 | 10.2 % | -10.99 % |
| Total Manhattan Office Class A | 11.51 | 2.45 | 13.95 | 6.6 % | -5.14 % |
| 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 | 12.14 | 4.45 | 16.59 | 7.83 % | -2.1 % |
| Midtown South Manhattan Office Class A | 0.63 | 0.04 | 0.68 | 5.12 % abc | -5.96 % |
| Downtown Manhattan Office Class A | 5.17 | 1.06 | 6.23 | 8.78 % | -8.11 % |
| Total Manhattan Office Class A | 17.94 | 5.55 | 23.5 | % | -4.76 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 14.67 million RSF to 13.95 million RSF.
- Total Manhattan Office Market vacancies decreased from 24.07 million RSF to 23.59 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.84 | 2.42 | 12.26 | 5.0 % | -1.11 % |
| Midtown South Manhattan Office | 3.98 | 0.5 | 4.48 | 5.5 % | 2.97 % |
| Downtown Manhattan Office | 6.11 | 0.75 | 6.86 | 9.8 % | -6.93 % |
| Total Manhattan Office | 19.93 | 3.67 | 23.6 | 6.1 % | -2.03 % |
| 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 | 17.3 | 5.7 | 23.0 | 7.48 % | -1.11 % |
| Midtown South Manhattan Office | 6.31 | 0.68 | 6.99 | 7.3 % abc | 2.97 % |
| Downtown Manhattan Office | 8.23 | 1.51 | 9.74 | 9.13 % | -2.54 % |
| Total Manhattan Office | 31.85 | 7.88 | 39.73 | % | -2.22 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 20.18 million RSF to 19.93 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.9 million RSF to 3.67 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 24.07 million RSF to 23.6 million RSF
- Total Midtown Office vacancy decreased from 12.39 million RSF to 12.26 million RSF
- Total Midtown South Office vacancy increased from 4.35 million RSF to 4.48 million RSF.
- Total Downtown Office vacancy decreased from 7.33 million RSF to 6.86 million RSF
