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April 2008

April 2008 » Market Analysis » New York Office Report
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April 2008 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 6.87 1.55 8.42 5.1 % 1.84 %
Midtown South Manhattan Office Class A 0.04 0.05 0.09 9.1 % -5.68 %
Downtown Manhattan Office Class A 2.35 0.58 2.93 4.7 % -8.07 %
Total Manhattan Office Class A 9.25 2.19 11.44 5.2 % -0.75 %
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 16.22 4.01 20.23 9.31 % 1.84 %
Midtown South Manhattan Office Class A 0.95 0.11 1.06 7.26 % abc -5.68 %
Downtown Manhattan Office Class A 3.5 1.54 5.05 7.02 % 11.63 %
Total Manhattan Office Class A 20.67 5.66 26.33 % 4.06 %

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 decreased from 21.4 million RSF to 21.02 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.72 1.88 11.6 4.8 % -0.53 %
Midtown South Manhattan Office 3.6 0.29 3.9 6.0 % -3.57 %
Downtown Manhattan Office 4.72 0.8 5.52 6.2 % -3.28 %
Total Manhattan Office 18.04 2.98 21.02 5.3 % -1.81 %
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 21.43 4.88 26.31 8.26 % -0.53 %
Midtown South Manhattan Office 6.93 0.94 7.88 8.04 % abc -3.57 %
Downtown Manhattan Office 7.37 1.95 9.32 8.4 % 7.67 %
Total Manhattan Office 35.73 7.77 43.5 % 2.55 %

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.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 21.4 million RSF to 21.02 million RSF
  • Total Midtown Office vacancy decreased from 11.66 million RSF to 11.6 million RSF
  • Total Midtown South Office vacancy decreased from 4.04 million RSF to 3.9 million RSF
  • Total Downtown Office vacancy decreased from 5.7 million RSF to 5.52 million RSF



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