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January 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 | 6.99 | 2.06 | 9.05 | 5.1 % | 6.67 % |
| Midtown South Manhattan Office Class A | 0.52 | 0.07 | 0.59 | 5.7 % | 9.03 % |
| Downtown Manhattan Office Class A | 4.33 | 0.7 | 5.03 | 10.2 % | -4.21 % |
| Total Manhattan Office Class A | 11.84 | 2.84 | 14.67 | 6.4 % | 3.03 % |
| 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 | 12.78 | 4.43 | 17.21 | 8.11 % | 6.67 % |
| Midtown South Manhattan Office Class A | 0.58 | 0.09 | 0.67 | 5.35 % abc | 9.03 % |
| Downtown Manhattan Office Class A | 5.52 | 1.21 | 6.73 | 9.33 % | -5.71 % |
| Total Manhattan Office Class A | 18.88 | 5.73 | 24.61 | % | -2.16 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 14.23 million RSF to 14.67 million RSF
- Total Manhattan Office Market vacancies increased from 23.69 million RSF to 24.07 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.94 | 2.45 | 12.39 | 4.7 % | 4.81 % |
| Midtown South Manhattan Office | 3.88 | 0.47 | 4.35 | 5.3 % | 1.06 % |
| Downtown Manhattan Office | 6.36 | 0.97 | 7.33 | 9.7 % | -3.52 % |
| Total Manhattan Office | 20.18 | 3.9 | 24.07 | 5.9 % | 1.6 % |
| 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 | 17.85 | 5.54 | 23.39 | 7.63 % | 4.81 % |
| Midtown South Manhattan Office | 6.43 | 0.81 | 7.23 | 7.58 % abc | 1.06 % |
| Downtown Manhattan Office | 8.32 | 1.67 | 9.99 | 9.28 % | -5.06 % |
| Total Manhattan Office | 32.6 | 8.01 | 40.61 | % | -2.15 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 19.97 million RSF to 20.18 million RSF.
- Manhattan Office Sublease vacancy increased from 3.72 million RSF to 3.9 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 23.69 million RSF to 24.07 million RSF.
- Total Midtown Office vacancy increased from 11.8 million RSF to 12.39 million RSF.
- Total Midtown South Office vacancy increased from 4.3 million RSF to 4.35 million RSF.
- Total Downtown Office vacancy decreased from 7.59 million RSF to 7.33 million RSF
