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December 2007 » Market Analysis » New York Office Report
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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 | 6.08 | 1.31 | 7.39 | 5.0 % | -7.05 % |
| Midtown South Manhattan Office Class A | 0.07 | 0.02 | 0.09 | 9.2 % | 2.35 % |
| Downtown Manhattan Office Class A | 2.72 | 0.58 | 3.29 | 5.4 % | -2.04 % |
| Total Manhattan Office Class A | 8.87 | 1.9 | 10.77 | 5.3 % | -5.44 % |
| 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 | 14.99 | 4.1 | 19.09 | 8.73 % | -7.05 % |
| Midtown South Manhattan Office Class A | 1.34 | 0.04 | 1.37 | 9.33 % abc | 2.35 % |
| Downtown Manhattan Office Class A | 4.02 | 0.98 | 4.99 | 7.04 % | 1.62 % |
| Total Manhattan Office Class A | 20.34 | 5.12 | 25.46 | % | 0.73 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 11.35 million RSF to 10.77 million RSF.
- Total Manhattan Office Market vacancies decreased from 21.16 million RSF to 20.32 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.04 | 1.71 | 10.75 | 4.7 % | -5.7 % |
| Midtown South Manhattan Office | 3.66 | 0.3 | 3.96 | 6.0 % | -3.28 % |
| Downtown Manhattan Office | 4.78 | 0.81 | 5.6 | 6.4 % | -1.8 % |
| Total Manhattan Office | 17.49 | 2.83 | 20.32 | 5.4 % | -4.15 % |
| 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 | 20.21 | 5.09 | 25.31 | 7.96 % | -5.7 % |
| Midtown South Manhattan Office | 7.16 | 0.92 | 8.08 | 8.21 % abc | -3.28 % |
| Downtown Manhattan Office | 7.25 | 1.36 | 8.61 | 7.94 % | -1.73 % |
| Total Manhattan Office | 34.62 | 7.37 | 41.99 | % | 0.25 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 18.16 million RSF to 17.49 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.0 million RSF to 2.83 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 21.16 million RSF to 20.32 million RSF
- Total Midtown Office vacancy decreased from 11.37 million RSF to 10.75 million RSF
- Total Midtown South Office vacancy decreased from 4.09 million RSF to 3.96 million RSF
- Total Downtown Office vacancy decreased from 5.7 million RSF to 5.6 million RSF
