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June 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 | 7.18 | 1.57 | 8.75 | 5.3 % | 0.56 % |
| Midtown South Manhattan Office Class A | 0.09 | 0.05 | 0.14 | 9.4 % | 11.68 % |
| Downtown Manhattan Office Class A | 2.26 | 1.35 | 3.61 | 5.7 % | -2.72 % |
| Total Manhattan Office Class A | 9.52 | 2.97 | 12.49 | 5.6 % | -0.26 % |
| 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 | 17.52 | 4.12 | 21.63 | 9.86 % | 0.56 % |
| Midtown South Manhattan Office Class A | 0.96 | 0.15 | 1.12 | 7.61 % abc | 11.68 % |
| Downtown Manhattan Office Class A | 3.53 | 1.8 | 5.33 | 7.45 % | 2.01 % |
| Total Manhattan Office Class A | 22.01 | 6.07 | 28.08 | % | 2.17 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 12.52 million RSF to 12.49 million RSF.
- Total Manhattan Office Market vacancies increased from 22.31 million RSF to 22.68 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 10.29 | 1.86 | 12.15 | 5.1 % | 2.31 % |
| Midtown South Manhattan Office | 3.95 | 0.27 | 4.22 | 6.5 % | 3.51 % |
| Downtown Manhattan Office | 4.75 | 1.55 | 6.31 | 6.8 % | -1.0 % |
| Total Manhattan Office | 18.99 | 3.69 | 22.68 | 5.7 % | 1.61 % |
| 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 | 22.93 | 4.98 | 27.9 | 8.71 % | 2.31 % |
| Midtown South Manhattan Office | 6.87 | 0.82 | 7.69 | 7.81 % abc | 3.51 % |
| Downtown Manhattan Office | 7.47 | 2.19 | 9.67 | 8.82 % | 1.02 % |
| Total Manhattan Office | 37.27 | 7.99 | 45.26 | % | 1.28 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 18.45 million RSF to 18.99 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.87 million RSF to 3.69 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 22.31 million RSF to 22.68 million RSF.
- Total Midtown Office vacancy increased from 11.87 million RSF to 12.15 million RSF.
- Total Midtown South Office vacancy increased from 4.07 million RSF to 4.22 million RSF.
- Total Downtown Office vacancy decreased from 6.37 million RSF to 6.31 million RSF
