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October 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 | 8.5 | 1.82 | 10.32 | 5.9 % | 9.38 % |
| Midtown South Manhattan Office Class A | 0.15 | 0.02 | 0.17 | 10.0 % | -1.76 % |
| Downtown Manhattan Office Class A | 2.16 | 1.31 | 3.47 | 5.5 % | -1.87 % |
| Total Manhattan Office Class A | 10.82 | 3.15 | 13.96 | 6.0 % | 6.44 % |
| 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 | 18.3 | 4.88 | 23.18 | 10.56 % | 9.38 % |
| Midtown South Manhattan Office Class A | 1.14 | 0.07 | 1.21 | 8.12 % abc | -1.76 % |
| Downtown Manhattan Office Class A | 5.02 | 2.04 | 7.06 | 9.63 % | 14.36 % |
| Total Manhattan Office Class A | 24.46 | 6.99 | 31.45 | % | 7.12 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 13.06 million RSF to 13.97 million RSF
- Total Manhattan Office Market vacancies increased from 23.23 million RSF to 24.26 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 11.77 | 2.25 | 14.03 | 5.6 % | 7.04 % |
| Midtown South Manhattan Office | 4.21 | 0.41 | 4.63 | 6.7 % | 2.23 % |
| Downtown Manhattan Office | 4.04 | 1.56 | 5.61 | 6.2 % | -1.07 % |
| Total Manhattan Office | 20.03 | 4.23 | 24.26 | 5.7 % | 4.25 % |
| 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 | 23.71 | 6.11 | 29.82 | 9.3 % | 7.04 % |
| Midtown South Manhattan Office | 7.5 | 1.07 | 8.57 | 8.51 % abc | 2.23 % |
| Downtown Manhattan Office | 8.29 | 2.44 | 10.72 | 9.64 % | 8.45 % |
| Total Manhattan Office | 39.49 | 9.62 | 49.12 | % | 5.71 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 19.06 million RSF to 20.03 million RSF.
- Manhattan Office Sublease vacancy increased from 4.17 million RSF to 4.23 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 23.23 million RSF to 24.26 million RSF.
- Total Midtown Office vacancy increased from 13.04 million RSF to 14.03 million RSF.
- Total Midtown South Office vacancy increased from 4.53 million RSF to 4.63 million RSF.
- Total Downtown Office vacancy decreased from 5.67 million RSF to 5.61 million RSF
