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August 2007

August 2007 » Market Analysis » New York Office Report

August 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 6.51 1.55 8.06 5.2 % 4.81 %
Midtown South Manhattan Office Class A 0.05 0.02 0.07 6.9 % 25.35 %
Downtown Manhattan Office Class A 3.64 0.41 4.05 6.8 % -0.67 %
Total Manhattan Office Class A 10.21 1.98 12.18 5.7 % 3.11 %
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 12.65 4.21 16.86 7.85 % 4.81 %
Midtown South Manhattan Office Class A 1.05 0.05 1.11 7.56 % abc 25.35 %
Downtown Manhattan Office Class A 4.95 0.99 5.95 8.36 % -5.18 %
Total Manhattan Office Class A 18.66 5.25 23.91 % -3.12 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 11.8 million RSF to 12.18 million RSF
  • Total Manhattan Office Market vacancies increased from 20.51 million RSF to 20.68 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.52 1.86 11.38 4.9 % 2.69 %
Midtown South Manhattan Office 2.63 0.3 2.94 4.8 % -4.94 %
Downtown Manhattan Office 5.71 0.65 6.36 7.4 % 0.16 %
Total Manhattan Office 17.86 2.82 20.68 5.4 % 0.83 %
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 18.31 5.16 23.47 7.51 % 2.69 %
Midtown South Manhattan Office 6.66 0.83 7.49 7.62 % abc -4.94 %
Downtown Manhattan Office 8.36 1.38 9.74 9.0 % -1.9 %
Total Manhattan Office 33.33 7.37 40.7 % -2.46 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 17.68 million RSF to 17.86 million RSF.
  • Manhattan Office Sublease vacancy decreased from 2.83 million RSF to 2.82 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 20.51 million RSF to 20.68 million RSF.
  • Total Midtown Office vacancy increased from 11.07 million RSF to 11.38 million RSF.
  • Total Midtown South Office vacancy decreased from 3.08 million RSF to 2.94 million RSF
  • Total Downtown Office vacancy increased from 6.35 million RSF to 6.36 million RSF.



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