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September 2007 » 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 | 6.51 | 1.47 | 7.98 | 5.2 % | -1.02 % |
| Midtown South Manhattan Office Class A | 0.05 | 0.02 | 0.07 | 6.8 % | -4.41 % |
| Downtown Manhattan Office Class A | 3.18 | 0.37 | 3.54 | 6.0 % | -14.27 % |
| Total Manhattan Office Class A | 9.73 | 1.86 | 11.59 | 5.5 % | -5.09 % |
| 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 | 15.6 | 4.02 | 19.62 | 9.0 % | -1.02 % |
| Midtown South Manhattan Office Class A | 1.02 | 0.05 | 1.07 | 7.36 % abc | -4.41 % |
| Downtown Manhattan Office Class A | 4.38 | 0.86 | 5.24 | 7.39 % | -13.48 % |
| Total Manhattan Office Class A | 21.0 | 4.93 | 25.93 | % | 7.79 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 12.18 million RSF to 11.59 million RSF.
- Total Manhattan Office Market vacancies decreased from 20.68 million RSF to 20.09 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.65 | 1.77 | 11.42 | 4.9 % | 0.33 % |
| Midtown South Manhattan Office | 2.5 | 0.31 | 2.81 | 4.8 % | -4.48 % |
| Downtown Manhattan Office | 5.22 | 0.64 | 5.87 | 6.9 % | -8.49 % |
| Total Manhattan Office | 17.37 | 2.72 | 20.09 | 5.3 % | -2.92 % |
| 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 | 18.52 | 4.99 | 23.51 | 7.53 % | 0.33 % |
| Midtown South Manhattan Office | 6.46 | 0.86 | 7.32 | 7.44 % abc | -4.48 % |
| Downtown Manhattan Office | 7.66 | 1.26 | 8.92 | 8.24 % | -9.17 % |
| Total Manhattan Office | 32.64 | 7.11 | 39.75 | % | -2.39 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 17.86 million RSF to 17.37 million RSF.
- Manhattan Office Sublease vacancy decreased from 2.82 million RSF to 2.72 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 20.68 million RSF to 20.09 million RSF
- Total Midtown Office vacancy increased from 11.38 million RSF to 11.42 million RSF.
- Total Midtown South Office vacancy decreased from 2.94 million RSF to 2.81 million RSF
- Total Downtown Office vacancy decreased from 6.36 million RSF to 5.87 million RSF
