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April 2007

April 2007 » Market Analysis » New York Office Report
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April 2007 New York Office Space Graphs and Statistics


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 6.52 1.75 8.27 4.6 % -2.3 %
Midtown South Manhattan Office Class A 0.52 0.02 0.53 5.8 % -3.18 %
Downtown Manhattan Office Class A 3.47 0.45 3.92 8.2 % -4.47 %
Total Manhattan Office Class A 10.51 2.21 12.73 5.5 % -3.0 %
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 12.12 5.11 17.23 8.09 % -2.3 %
Midtown South Manhattan Office Class A 0.62 0.06 0.68 5.07 % abc -3.18 %
Downtown Manhattan Office Class A 4.79 1.12 5.91 8.28 % 1.22 %
Total Manhattan Office Class A 17.53 6.29 23.82 % 3.48 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 13.11 million RSF to 12.73 million RSF.
  • Total Manhattan Office Market vacancies decreased from 22.6 million RSF to 21.74 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.61 2.02 11.64 4.5 % -3.58 %
Midtown South Manhattan Office 3.4 0.51 3.91 5.1 % -4.15 %
Downtown Manhattan Office 5.56 0.64 6.19 8.3 % -4.55 %
Total Manhattan Office 18.56 3.17 21.73 5.4 % -3.96 %
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 17.45 6.06 23.51 7.6 % -3.58 %
Midtown South Manhattan Office 6.25 0.73 6.98 7.19 % abc -4.15 %
Downtown Manhattan Office 7.94 1.52 9.47 8.82 % -0.3 %
Total Manhattan Office 31.65 8.31 39.96 % 1.46 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 19.09 million RSF to 18.56 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.5 million RSF to 3.17 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 22.6 million RSF to 21.73 million RSF
  • Total Midtown Office vacancy decreased from 12.05 million RSF to 11.64 million RSF
  • Total Midtown South Office vacancy decreased from 4.07 million RSF to 3.91 million RSF
  • Total Downtown Office vacancy decreased from 6.48 million RSF to 6.19 million RSF



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