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June 2007

June 2007 » Market Analysis » New York Office Report

June 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 6.38 1.62 8.0 4.6 % -1.76 %
Midtown South Manhattan Office Class A 0.04 0.0 0.04 2.3 % -1087.8 %
Downtown Manhattan Office Class A 3.69 0.52 4.2 8.0 % 8.87 %
Total Manhattan Office Class A 10.1 2.14 12.24 5.4 % -1.75 %
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 12.13 4.13 16.26 7.64 % -1.76 %
Midtown South Manhattan Office Class A 0.26 0.05 0.31 2.27 % abc -1087.8 %
Downtown Manhattan Office Class A 5.07 1.17 6.24 8.76 % 3.89 %
Total Manhattan Office Class A 17.46 5.34 22.81 % -0.6 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 12.46 million RSF to 12.24 million RSF.
  • Total Manhattan Office Market vacancies decreased from 21.58 million RSF to 20.92 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.39 1.92 11.32 4.5 % -1.48 %
Midtown South Manhattan Office 2.83 0.3 3.13 4.4 % -27.25 %
Downtown Manhattan Office 5.73 0.75 6.48 8.2 % 5.62 %
Total Manhattan Office 17.96 2.97 20.92 5.2 % -3.13 %
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 17.22 5.1 22.32 7.22 % -1.48 %
Midtown South Manhattan Office 5.5 0.72 6.23 6.47 % abc -27.25 %
Downtown Manhattan Office 8.32 1.61 9.93 9.25 % 2.71 %
Total Manhattan Office 31.04 7.43 38.47 % -1.89 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 18.56 million RSF to 17.96 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.02 million RSF to 2.97 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 21.58 million RSF to 20.92 million RSF
  • Total Midtown Office vacancy decreased from 11.48 million RSF to 11.32 million RSF
  • Total Midtown South Office vacancy decreased from 3.98 million RSF to 3.13 million RSF
  • Total Downtown Office vacancy increased from 6.12 million RSF to 6.48 million RSF.



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