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March 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) |
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| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office Class A | 6.58 | 1.88 | 8.46 | 5.0 % | -4.77 % |
| Midtown South Manhattan Office Class A | 0.53 | 0.02 | 0.55 | 6.0 % | -0.54 % |
| Downtown Manhattan Office Class A | 3.64 | 0.46 | 4.09 | 9.3 % | -10.7 % |
| Total Manhattan Office Class A | 10.75 | 2.36 | 13.11 | 6.1 % | -6.45 % |
| 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 | 11.78 | 4.7 | 16.48 | 7.76 % | -4.77 % |
| Midtown South Manhattan Office Class A | 0.63 | 0.04 | 0.67 | 5.0 % abc | -0.54 % |
| Downtown Manhattan Office Class A | 4.76 | 1.08 | 5.84 | 8.23 % | -6.54 % |
| Total Manhattan Office Class A | 17.18 | 5.82 | 23.0 | % | -2.18 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies decreased from 13.95 million RSF to 13.11 million RSF.
- Total Manhattan Office Market vacancies decreased from 23.59 million RSF to 22.6 million RSF.
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 9.77 | 2.28 | 12.05 | 4.8 % | -1.7 % |
| Midtown South Manhattan Office | 3.56 | 0.51 | 4.07 | 5.4 % | -10.18 % |
| Downtown Manhattan Office | 5.76 | 0.72 | 6.48 | 9.2 % | -5.87 % |
| Total Manhattan Office | 19.09 | 3.5 | 22.6 | 5.8 % | -4.42 % |
| 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 | 17.3 | 5.8 | 23.09 | 7.5 % | -1.7 % |
| Midtown South Manhattan Office | 6.06 | 0.73 | 6.79 | 7.06 % abc | -10.18 % |
| Downtown Manhattan Office | 7.95 | 1.55 | 9.49 | 8.89 % | -2.58 % |
| Total Manhattan Office | 31.3 | 8.07 | 39.38 | % | -0.9 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy decreased from 19.93 million RSF to 19.09 million RSF.
- Manhattan Office Sublease vacancy decreased from 3.67 million RSF to 3.5 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased from 23.6 million RSF to 22.6 million RSF
- Total Midtown Office vacancy decreased from 12.26 million RSF to 12.05 million RSF
- Total Midtown South Office vacancy decreased from 4.48 million RSF to 4.07 million RSF
- Total Downtown Office vacancy decreased from 6.86 million RSF to 6.48 million RSF
