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March 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 | 6.66 | 1.61 | 8.27 | 5.0 % | 0.31 % |
| Midtown South Manhattan Office Class A | 0.04 | 0.05 | 0.09 | 9.2 % | 11.83 % |
| Downtown Manhattan Office Class A | 2.56 | 0.61 | 3.16 | 5.2 % | 3.98 % |
| Total Manhattan Office Class A | 9.26 | 2.27 | 11.52 | 5.3 % | 1.41 % |
| 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 | 16.02 | 3.76 | 19.78 | 9.13 % | 0.31 % |
| Midtown South Manhattan Office Class A | 0.96 | 0.06 | 1.02 | 7.02 % abc | 11.83 % |
| Downtown Manhattan Office Class A | 3.53 | 0.93 | 4.46 | 6.28 % | 3.95 % |
| Total Manhattan Office Class A | 20.52 | 4.75 | 25.26 | % | 2.77 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 11.36 million RSF to 11.52 million RSF
- Total Manhattan Office Market vacancies increased from 20.94 million RSF to 21.4 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.6 | 2.06 | 11.66 | 4.8 % | 0.79 % |
| Midtown South Manhattan Office | 3.75 | 0.28 | 4.04 | 6.0 % | -2.78 % |
| Downtown Manhattan Office | 4.86 | 0.84 | 5.7 | 6.6 % | 8.44 % |
| Total Manhattan Office | 18.22 | 3.18 | 21.4 | 5.4 % | 2.15 % |
| 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 | 21.08 | 4.65 | 25.73 | 8.1 % | 0.79 % |
| Midtown South Manhattan Office | 7.2 | 0.86 | 8.06 | 8.15 % abc | -2.78 % |
| Downtown Manhattan Office | 7.26 | 1.34 | 8.6 | 7.91 % | 8.57 % |
| Total Manhattan Office | 35.54 | 6.85 | 42.39 | % | 4.09 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 17.92 million RSF to 18.22 million RSF.
- Manhattan Office Sublease vacancy increased from 3.01 million RSF to 3.18 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 20.94 million RSF to 21.4 million RSF.
- Total Midtown Office vacancy increased from 11.57 million RSF to 11.66 million RSF.
- Total Midtown South Office vacancy decreased from 4.15 million RSF to 4.04 million RSF
- Total Downtown Office vacancy increased from 5.22 million RSF to 5.7 million RSF.
