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September 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 | 7.6 | 1.75 | 9.35 | 5.9 % | 7.07 % |
| Midtown South Manhattan Office Class A | 0.16 | 0.02 | 0.17 | 9.8 % | 51.45 % |
| Downtown Manhattan Office Class A | 2.21 | 1.33 | 3.54 | 5.5 % | -1.02 % |
| Total Manhattan Office Class A | 9.97 | 3.1 | 13.07 | 6.0 % | 5.46 % |
| 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 | 17.79 | 4.26 | 22.05 | 10.05 % | 7.07 % |
| Midtown South Manhattan Office Class A | 1.04 | 0.07 | 1.11 | 7.48 % abc | 51.45 % |
| Downtown Manhattan Office Class A | 4.0 | 2.04 | 6.05 | 8.37 % | 4.07 % |
| Total Manhattan Office Class A | 22.84 | 6.37 | 29.21 | % | 2.38 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 12.35 million RSF to 13.06 million RSF
- Total Manhattan Office Market vacancies increased from 22.52 million RSF to 23.23 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 10.83 | 2.21 | 13.04 | 5.5 % | 5.15 % |
| Midtown South Manhattan Office | 4.15 | 0.38 | 4.53 | 6.6 % | 3.58 % |
| Downtown Manhattan Office | 4.08 | 1.58 | 5.67 | 6.2 % | -2.1 % |
| Total Manhattan Office | 19.06 | 4.17 | 23.23 | 5.9 % | 3.07 % |
| 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 | 23.07 | 5.4 | 28.47 | 8.89 % | 5.15 % |
| Midtown South Manhattan Office | 6.99 | 1.04 | 8.03 | 8.06 % abc | 3.58 % |
| Downtown Manhattan Office | 7.35 | 2.46 | 9.82 | 8.91 % | 2.26 % |
| Total Manhattan Office | 37.41 | 8.9 | 46.31 | % | 1.66 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 18.65 million RSF to 19.06 million RSF.
- Manhattan Office Sublease vacancy increased from 3.86 million RSF to 4.17 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 22.52 million RSF to 23.23 million RSF.
- Total Midtown Office vacancy increased from 12.37 million RSF to 13.04 million RSF.
- Total Midtown South Office vacancy increased from 4.36 million RSF to 4.53 million RSF.
- Total Downtown Office vacancy decreased from 5.79 million RSF to 5.67 million RSF
