April 2008 Manhattan Real Estate Graphs and Statistics

Finding your Ideal Manhattan Office Space or NYC Retail Space

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 MANHATTAN CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Class Office Class A 6.87 1.56 8.42 5.10 % 1.84 %
Midtown South Manhattan Office Class A 0.04 0.05 0.09 9.10 % -5.68 %
Downtown Manhattan Office Class A 2.35 0.58 2.93 4.70 % -8.07 %
Total Manhattan Office Class A 9.25 2.19 11.44 5.20 % -0.75 %
 
MANHATTAN 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 16.22 4.01 20.23 9.31 % 2.21 %
Midtown South Manhattan Office Class A 0.95 0.11 1.06 7.26 % 3.31 %
Downtown Manhattan Office Class A 3.51 1.54 5.05 7.02 % 11.63 %
Total Manhattan Office Class A 20.67 5.66 26.33 8.67 % 4.06 %
 
Manhattan Class A Office Vacancy - April 2008

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 11.52 million RSF to 11.44 million RSF.
  • Total Manhattan Office Market vacancies increased from 21.40 million RSF to 21.02 million RSF.




 MANHATTAN TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office 9.72 1.88 11.60 4.80 % -0.53 %
Midtown South Manhattan Office 3.60 0.30 3.90 6.00 % -3.57 %
Downtown Manhattan Office 4.72 0.80 5.52 6.20 % -3.28 %
Total Manhattan Office 18.04 2.98 21.02 5.30 % -1.81 %
 
MANHATTAN 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 21.43 4.88 26.31 8.26 % 2.20 %
Midtown South Manhattan Office 6.93 0.94 7.88 8.04 % -2.31 %
Downtown Manhattan Office 7.37 1.95 9.32 8.40 % 7.67 %
Total Manhattan Office 35.73 7.77 43.50 8.25 % 2.55 %


manhattan office space rent or lease - April 2008

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 18.22 million RSF to 18.04 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.18 million RSF to 2.98 million RSF.

rent manhattan office space by area - April 2008

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 21.40 million RSF to 21.02 million RSF.
  • Total Midtown Office vacancy decreased from 11.66 million RSF to 11.60 million RSF.
  • Total Midtown South Office vacancy decreased from 4.04 million RSF to 3.90 million RSF.
  • Total Downtown Office vacancy decreased from 5.70 million RSF to 5.52 million RSF.


manhattan midtown office space rent - April 2008

Midtown Manhattan Office Rent

  • Total vacant Office Direct Space For Rent in Midtown Manhattan increased from 9.60 million RSF to 9.72 million RSF.
  • Total vacant Office Sublease Space For Lease in Midtown Manhattan decreased from 2.06 million RSF to 1.88 million RSF.


manhattan midtown south office space for lease - April 2008

Midtown South Manhattan Office Rent

  • Total vacant Office Direct Space in Midtown South Manhattan decreased from 3.75 million RSF to 3.60 million RSF.
  • Midtown South Manhattan Sublease vacancies increased from 0.28 million RSF to 0.30 million RSF.


Manhattan Downtown Office Space Rent - April 2008

Downtown Manhattan Office Rent

  • Total Downtown Manhattan Office Direct Lease Space decreased from 4.86 million RSF to 4.72 million RSF.
  • Total Downtown Manhattan Office Sublease Vacancies decreased from 0.84 million RSF to 0.80 million RSF.




 MANHATTAN RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.24 0.01 0.25 1.60 % -2.86 %
Midtown South Manhattan Retail 0.64 0.13 0.76 5.40 % 5.64 %
Downtown Manhattan Retail 0.10 0.01 0.11 2.30 % 8.26 %
Total Retail 0.98 0.14 1.12 3.20 % 4.03 %
 
MANHATTAN RETAIL VACANT SPACES NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.47 0.07 0.53 3.04 % -2.64 %
Midtown South Manhattan Retail 0.93 0.16 1.09 6.95 % 10.41 %
Downtown Manhattan Retail 0.16 0.01 0.17 3.15 % 7.78 %
Total Retail 1.56 0.23 1.78 4.65 % 6.28 %


Manhattan retail space for rent- April 2008

Manhattan Retail Rent Vacancy

  • Total Available Manhattan Retail Space increased from 1.07 million RSF to 1.12 million RSF.
  • Midtown Manhattan Retail vacancy stayed at 0.25 million RSF.
  • Midtown South Retail space vacancies increased from 0.72 million RSF to 0.76 million RSF.
  • In Downtown Manhattan, Retail vacancy increased from 0.10 million RSF to 0.11 million RSF.




  MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.17 0.00 0.17 3.40 % -0.58 %
Midtown South Manhattan Industrial 0.15 0.00 0.15 2.20 % -3.38 %
Downtown Manhattan Industrial 0.00 0.00 0.00 0.00 % 0.00 %
Total Industrial 0.32 0.00 0.32 2.50 % -1.87 %
MANHATTAN INDUSTRIAL VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.17 0.00 0.17 3.35 % -4.06 %
Midtown South Manhattan Industrial 0.29 0.00 0.29 4.18 % -4.86 %
Downtown Manhattan Industrial 0.00 0.00 0.00 0.00 % 0.00 %
Total Industrial 0.46 0.00 0.46 3.56 % -4.56 %
 


New York Rent Industrial Space - April 2008

Manhattan Industrial Rent Vacancy

  • Total Manhattan Industrial Vacant Space decreased from 0.33 million RSF to 0.32 million RSF.
  • Midtown vacancy stayed at 0.17 million RSF.
  • Midtown South Industrial space vacancies stayed at 0.15 million RSF.






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