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January 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 | 7.08 | 1.57 | 8.65 | 4.8 % | 14.61 % |
| Midtown South Manhattan Office Class A | 0.05 | 0.01 | 0.06 | 9.0 % | -37.1 % |
| Downtown Manhattan Office Class A | 2.58 | 0.56 | 3.14 | 5.0 % | -4.77 % |
| Total Manhattan Office Class A | 9.71 | 2.15 | 11.86 | 5.1 % | 9.2 % |
| 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 | 15.52 | 4.03 | 19.55 | 8.97 % | 14.61 % |
| Midtown South Manhattan Office Class A | 0.96 | 0.03 | 0.99 | 6.74 % abc | -37.1 % |
| Downtown Manhattan Office Class A | 3.83 | 0.86 | 4.69 | 6.59 % | -6.55 % |
| Total Manhattan Office Class A | 20.3 | 4.92 | 25.22 | % | -0.94 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 10.77 million RSF to 11.86 million RSF
- Total Manhattan Office Market vacancies increased from 20.32 million RSF to 22.35 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 | 2.11 | 12.49 | 4.5 % | 13.89 % |
| Midtown South Manhattan Office | 4.11 | 0.27 | 4.38 | 6.0 % | 9.52 % |
| Downtown Manhattan Office | 4.68 | 0.8 | 5.48 | 6.2 % | -2.1 % |
| Total Manhattan Office | 19.16 | 3.19 | 22.35 | 5.1 % | 9.11 % |
| 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 | 20.76 | 4.97 | 25.73 | 8.13 % | 13.89 % |
| Midtown South Manhattan Office | 6.88 | 0.88 | 7.75 | 7.89 % abc | 9.52 % |
| Downtown Manhattan Office | 7.07 | 1.23 | 8.29 | 7.65 % | -3.77 % |
| Total Manhattan Office | 34.7 | 7.08 | 41.78 | % | -0.51 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 17.49 million RSF to 19.16 million RSF.
- Manhattan Office Sublease vacancy increased from 2.83 million RSF to 3.19 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 20.32 million RSF to 22.35 million RSF.
- Total Midtown Office vacancy increased from 10.75 million RSF to 12.49 million RSF.
- Total Midtown South Office vacancy increased from 3.96 million RSF to 4.38 million RSF.
- Total Downtown Office vacancy decreased from 5.6 million RSF to 5.48 million RSF
