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July 2007

July 2007 » Market Analysis » New York Office Report

July 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 6.26 1.42 7.67 4.6 % -4.24 %
Midtown South Manhattan Office Class A 0.04 0.01 0.05 7.0 % 22.64 %
Downtown Manhattan Office Class A 3.66 0.42 4.08 7.7 % -3.09 %
Total Manhattan Office Class A 9.95 1.85 11.8 5.4 % -3.72 %
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 13.21 4.12 17.33 8.08 % -4.24 %
Midtown South Manhattan Office Class A 1.04 0.04 1.08 7.39 % abc 22.64 %
Downtown Manhattan Office Class A 5.08 1.17 6.25 8.76 % 0.14 %
Total Manhattan Office Class A 19.33 5.33 24.66 % 7.49 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 12.24 million RSF to 11.8 million RSF.
  • Total Manhattan Office Market vacancies decreased from 20.92 million RSF to 20.51 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.25 1.83 11.07 4.4 % -2.19 %
Midtown South Manhattan Office 2.79 0.29 3.08 4.9 % -1.49 %
Downtown Manhattan Office 5.64 0.71 6.35 7.9 % -1.98 %
Total Manhattan Office 17.68 2.83 20.51 5.3 % -2.02 %
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 18.99 5.21 24.2 7.76 % -2.19 %
Midtown South Manhattan Office 6.75 0.82 7.58 7.71 % abc -1.49 %
Downtown Manhattan Office 8.29 1.64 9.93 9.15 % -0.03 %
Total Manhattan Office 34.03 7.67 41.7 % 7.74 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 17.96 million RSF to 17.68 million RSF.
  • Manhattan Office Sublease vacancy decreased from 2.97 million RSF to 2.83 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 20.92 million RSF to 20.51 million RSF
  • Total Midtown Office vacancy decreased from 11.32 million RSF to 11.07 million RSF
  • Total Midtown South Office vacancy decreased from 3.13 million RSF to 3.08 million RSF
  • Total Downtown Office vacancy decreased from 6.48 million RSF to 6.35 million RSF



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