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December 2008 » 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 | 9.39 | 2.6 | 12.0 | 6.5 % | 8.47 % |
| Midtown South Manhattan Office Class A | 0.62 | 0.02 | 0.64 | 7.7 % | 0.94 % |
| Downtown Manhattan Office Class A | 2.3 | 1.4 | 3.7 | 5.8 % | -2.51 % |
| Total Manhattan Office Class A | 12.32 | 4.01 | 16.33 | 6.4 % | 5.69 % |
| 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 | 19.59 | 6.37 | 25.96 | 11.76 % | 8.47 % |
| Midtown South Manhattan Office Class A | 1.19 | 0.13 | 1.32 | 9.1 % abc | 0.94 % |
| Downtown Manhattan Office Class A | 14.32 | 2.44 | 16.76 | 20.26 % | 3.23 % |
| Total Manhattan Office Class A | 35.1 | 8.94 | 44.04 | % | 4.12 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 15.4 million RSF to 16.33 million RSF
- Total Manhattan Office Market vacancies increased from 26.52 million RSF to 27.87 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 12.96 | 3.05 | 16.01 | 6.0 % | 7.46 % |
| Midtown South Manhattan Office | 5.07 | 0.68 | 5.75 | 6.9 % | 2.26 % |
| Downtown Manhattan Office | 4.48 | 1.63 | 6.11 | 6.6 % | 0.39 % |
| Total Manhattan Office | 22.5 | 5.37 | 27.87 | 6.3 % | 4.84 % |
| 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 | 25.59 | 7.67 | 33.26 | 10.3 % | 7.46 % |
| Midtown South Manhattan Office | 7.74 | 1.61 | 9.34 | 9.31 % abc | 2.26 % |
| Downtown Manhattan Office | 18.66 | 2.88 | 21.54 | 17.71 % | 5.81 % |
| Total Manhattan Office | 51.98 | 12.16 | 64.14 | % | 5.47 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 21.58 million RSF to 22.5 million RSF.
- Manhattan Office Sublease vacancy increased from 4.94 million RSF to 5.37 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 26.52 million RSF to 27.87 million RSF.
- Total Midtown Office vacancy increased from 14.82 million RSF to 16.01 million RSF.
- Total Midtown South Office vacancy increased from 5.62 million RSF to 5.75 million RSF.
- Total Downtown Office vacancy increased from 6.09 million RSF to 6.11 million RSF.
