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July 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 | 6.92 | 1.71 | 8.63 | 5.4 % | -1.3 % |
| Midtown South Manhattan Office Class A | 0.1 | 0.05 | 0.15 | 9.6 % | 10.46 % |
| Downtown Manhattan Office Class A | 2.37 | 1.31 | 3.68 | 5.9 % | 1.88 % |
| Total Manhattan Office Class A | 9.39 | 3.07 | 12.46 | 5.7 % | -0.22 % |
| 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 | 17.34 | 4.42 | 21.77 | 9.99 % | -1.3 % |
| Midtown South Manhattan Office Class A | 1.0 | 0.15 | 1.16 | 7.85 % abc | 10.46 % |
| Downtown Manhattan Office Class A | 3.85 | 1.79 | 5.64 | 7.87 % | 5.65 % |
| Total Manhattan Office Class A | 22.2 | 6.37 | 28.57 | % | 1.72 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 12.49 million RSF to 12.46 million RSF.
- Total Manhattan Office Market vacancies increased from 22.68 million RSF to 23.06 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 10.12 | 2.08 | 12.19 | 5.1 % | 0.35 % |
| Midtown South Manhattan Office | 4.07 | 0.33 | 4.4 | 6.5 % | 4.18 % |
| Downtown Manhattan Office | 4.94 | 1.53 | 6.46 | 7.0 % | 2.4 % |
| Total Manhattan Office | 19.12 | 3.94 | 23.06 | 5.8 % | 1.66 % |
| 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 | 22.89 | 5.31 | 28.2 | 8.83 % | 0.35 % |
| Midtown South Manhattan Office | 6.91 | 0.82 | 7.73 | 7.78 % abc | 4.18 % |
| Downtown Manhattan Office | 7.81 | 2.21 | 10.02 | 9.13 % | 3.48 % |
| Total Manhattan Office | 37.61 | 8.34 | 45.95 | % | 1.49 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 18.99 million RSF to 19.12 million RSF.
- Manhattan Office Sublease vacancy increased from 3.69 million RSF to 3.94 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 22.68 million RSF to 23.06 million RSF.
- Total Midtown Office vacancy increased from 12.15 million RSF to 12.19 million RSF.
- Total Midtown South Office vacancy increased from 4.22 million RSF to 4.4 million RSF.
- Total Downtown Office vacancy increased from 6.31 million RSF to 6.46 million RSF.
