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May 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 | 7.02 | 1.68 | 8.7 | 5.4 % | 3.14 % |
| Midtown South Manhattan Office Class A | 0.07 | 0.05 | 0.12 | 9.0 % | 27.27 % |
| Downtown Manhattan Office Class A | 2.34 | 1.36 | 3.71 | 5.7 % | 21.05 % |
| Total Manhattan Office Class A | 9.43 | 3.09 | 12.52 | 5.6 % | 8.67 % |
| 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 | 17.11 | 4.03 | 21.14 | 9.66 % | 3.14 % |
| Midtown South Manhattan Office Class A | 0.95 | 0.16 | 1.11 | 7.58 % abc | 27.27 % |
| Downtown Manhattan Office Class A | 3.52 | 1.7 | 5.22 | 7.32 % | 3.31 % |
| Total Manhattan Office Class A | 21.58 | 5.89 | 27.47 | % | 4.14 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 11.44 million RSF to 12.52 million RSF
- Total Manhattan Office Market vacancies increased from 21.02 million RSF to 22.31 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.9 | 1.97 | 11.87 | 5.0 % | 2.27 % |
| Midtown South Manhattan Office | 3.78 | 0.29 | 4.07 | 6.3 % | 4.3 % |
| Downtown Manhattan Office | 4.76 | 1.61 | 6.37 | 7.0 % | 13.37 % |
| Total Manhattan Office | 18.45 | 3.87 | 22.31 | 5.7 % | 5.81 % |
| 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 | 22.34 | 4.86 | 27.2 | 8.5 % | 2.27 % |
| Midtown South Manhattan Office | 6.89 | 1.02 | 7.92 | 8.08 % abc | 4.3 % |
| Downtown Manhattan Office | 7.47 | 2.1 | 9.57 | 8.68 % | 2.63 % |
| Total Manhattan Office | 36.7 | 7.98 | 44.68 | % | 2.64 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 18.04 million RSF to 18.45 million RSF.
- Manhattan Office Sublease vacancy increased from 2.98 million RSF to 3.87 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 21.02 million RSF to 22.31 million RSF.
- Total Midtown Office vacancy increased from 11.6 million RSF to 11.87 million RSF.
- Total Midtown South Office vacancy increased from 3.9 million RSF to 4.07 million RSF.
- Total Downtown Office vacancy increased from 5.52 million RSF to 6.37 million RSF.
