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January 2007

January 2007 » Market Analysis » New York Office Report

January 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 6.99 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



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