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May 2008 » Market Analysis » New York Retail Report
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| NEW YORK RETAIL VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Retail | 0.23 | 0.01 | 0.23 | 1.4 % | -0.38 % |
| Midtown South Manhattan Retail | 0.6 | 0.12 | 0.72 | 5.1 % | 0.73 % |
| Downtown Manhattan Retail | 0.13 | 0.01 | 0.13 | 2.8 % | 7.73 % |
| Total Manhattan Retail | 0.95 | 0.14 | 1.09 | 3.0 % | -2.85 % |
| NEW YORK RETAIL VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Retail | 0.46 | 0.07 | 0.53 | 2.7 % | -0.38 % |
| Midtown South Manhattan Retail | 0.94 | 0.15 | 1.09 | 6.91 % abc | 0.73 % |
| Downtown Manhattan Retail | 0.18 | 0.01 | 0.18 | 3.3 % | 0 % |
| Total Manhattan Retail | 1.57 | 0.23 | 1.8 | % | 1.11 % |
Manhattan Retail Rent Vacancy
- Total Available Manhattan Retail Space decreased from 1.12 million RSF to 1.09 million RSF
- Midtown Manhattan Retail vacancy decreased from 0.24 million RSF to 0.23 million RSF
- Midtown South Retail space vacancies decreased from 0.76 million RSF to 0.72 million RSF
- In Downtown Manhattan, Retail vacancy increased from 0.11 million RSF to 0.13 million RSF.
