February 2008 Manhattan Real Estate Graphs and Statistics

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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 6.78 1.46 8.24 5.90 % -5.00 %
Midtown South Manhattan Office Class A 0.03 0.05 0.08 9.10 % 24.39 %
Downtown Manhattan Office Class A 2.48 0.55 3.04 5.00 % -3.49 %
Total Manhattan Office Class A 9.29 2.07 11.36 5.80 % -4.38 %
 
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 15.70 3.54 19.24 8.86 % -1.60 %
Midtown South Manhattan Office Class A 0.98 0.06 1.04 7.12 % 5.10 %
Downtown Manhattan Office Class A 3.43 0.86 4.28 6.05 % -9.41 %
Total Manhattan Office Class A 20.10 4.46 24.56 8.12 % -2.67 %
 
Manhattan Class A Office Vacancy - February 2008

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 11.86 million RSF to 11.36 million RSF.
  • Total Manhattan Office Market vacancies increased from 22.35 million RSF to 20.94 million RSF.




 MANHATTAN TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office 9.64 1.93 11.57 5.40 % -7.95 %
Midtown South Manhattan Office 3.85 0.30 4.15 6.10 % -5.59 %
Downtown Manhattan Office 4.44 0.79 5.22 6.10 % -5.06 %
Total Manhattan Office 17.92 3.01 20.94 5.70 % -6.76 %
 
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 20.58 4.40 24.97 7.86 % -3.05 %
Midtown South Manhattan Office 7.04 0.79 7.83 7.95 % 0.91 %
Downtown Manhattan Office 6.63 1.24 7.86 7.26 % -5.47 %
Total Manhattan Office 34.25 6.42 40.66 7.75 % -2.75 %


manhattan office space rent or lease - February 2008

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 19.17 million RSF to 17.92 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.19 million RSF to 3.01 million RSF.

rent manhattan office space by area - February 2008

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 22.35 million RSF to 20.94 million RSF.
  • Total Midtown Office vacancy decreased from 12.49 million RSF to 11.57 million RSF.
  • Total Midtown South Office vacancy decreased from 4.38 million RSF to 4.15 million RSF.
  • Total Downtown Office vacancy decreased from 5.48 million RSF to 5.22 million RSF.


manhattan midtown office space rent - February 2008

Midtown Manhattan Office Rent

  • Total vacant Office Direct Space For Rent in Midtown Manhattan decreased from 10.38 million RSF to 9.64 million RSF.
  • Total vacant Office Sublease Space For Lease in Midtown Manhattan decreased from 2.11 million RSF to 1.93 million RSF.


manhattan midtown south office space for lease - February 2008

Midtown South Manhattan Office Rent

  • Total vacant Office Direct Space in Midtown South Manhattan decreased from 4.11 million RSF to 3.85 million RSF.
  • Midtown South Manhattan Sublease vacancies increased from 0.27 million RSF to 0.30 million RSF.


Manhattan Downtown Office Space Rent - February 2008

Downtown Manhattan Office Rent

  • Total Downtown Manhattan Office Direct Lease Space decreased from 4.68 million RSF to 4.44 million RSF.
  • Total Downtown Manhattan Office Sublease Vacancies decreased from 0.80 million RSF to 0.79 million RSF.




 MANHATTAN RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.23 0.00 0.23 1.50 % 9.52 %
Midtown South Manhattan Retail 0.60 0.12 0.73 5.50 % -6.34 %
Downtown Manhattan Retail 0.09 0.01 0.09 2.10 % 17.02 %
Total Retail 0.92 0.13 1.05 3.20 % -0.76 %
 
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 0.43 0.07 0.50 2.95 % 8.18 %
Midtown South Manhattan Retail 0.84 0.13 0.97 6.61 % -4.24 %
Downtown Manhattan Retail 0.14 0.01 0.15 2.78 % 5.44 %
Total Retail 1.41 0.21 1.62 4.38 % 0.50 %


Manhattan retail space for rent- February 2008

Manhattan Retail Rent Vacancy

  • Total Available Manhattan Retail Space decreased from 1.06 million RSF to 1.05 million RSF.
  • Midtown Manhattan Retail vacancy increased from 0.21 million RSF to 0.23 million RSF.
  • Midtown South Retail space vacancies decreased from 0.77 million RSF to 0.73 million RSF.
  • In Downtown Manhattan, Retail vacancy increased from 0.08 million RSF to 0.09 million RSF.




  MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.09 0.00 0.09 1.80 % -4.28 %
Midtown South Manhattan Industrial 0.11 0.01 0.12 1.70 % 17.39 %
Downtown Manhattan Industrial 0.00 0.00 0.00 0.40 % 0.00 %
Total Industrial 0.21 0.01 0.21 1.70 % 7.53 %
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 0.10 0.00 0.10 1.98 % 4.88 %
Midtown South Manhattan Industrial 0.30 0.01 0.31 4.45 % 53.07 %
Downtown Manhattan Industrial 0.00 0.00 0.00 0.00 % 0.00 %
Total Industrial 0.41 0.01 0.42 3.19 % 40.68 %
 


New York Rent Industrial Space - February 2008

Manhattan Industrial Rent Vacancy

  • Total Manhattan Industrial Vacant Space increased from 0.20 million RSF to 0.21 million RSF.
  • Midtown vacancy decreased from 0.10 million RSF to 0.09 million RSF.
  • Midtown South Industrial space vacancies increased from 0.10 million RSF to 0.12 million RSF.






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