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May 2007

May 2007 » Market Analysis » New York Office Report

May 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 6.59 1.54 8.14 4.6 % -1.66 %
Midtown South Manhattan Office Class A 0.47 0.02 0.49 5.5 % -9.65 %
Downtown Manhattan Office Class A 3.39 0.44 3.83 7.4 % -2.3 %
Total Manhattan Office Class A 10.46 2.0 12.46 5.3 % -2.17 %
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 11.63 4.58 16.22 7.65 % -1.66 %
Midtown South Manhattan Office Class A 0.67 0.06 0.73 5.38 % abc -9.65 %
Downtown Manhattan Office Class A 4.73 1.27 6.0 8.38 % 1.43 %
Total Manhattan Office Class A 17.03 5.92 22.95 % -3.82 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 12.73 million RSF to 12.46 million RSF.
  • Total Manhattan Office Market vacancies decreased from 21.74 million RSF to 21.58 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.6 1.89 11.48 4.5 % -1.31 %
Midtown South Manhattan Office 3.5 0.48 3.98 5.1 % 1.83 %
Downtown Manhattan Office 5.46 0.66 6.12 7.8 % -1.29 %
Total Manhattan Office 18.56 3.02 21.58 5.3 % -0.73 %
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 16.88 5.54 22.41 7.27 % -1.31 %
Midtown South Manhattan Office 6.23 0.9 7.13 7.4 % abc 1.83 %
Downtown Manhattan Office 7.97 1.69 9.66 8.98 % 2.02 %
Total Manhattan Office 31.07 8.13 39.2 % -1.94 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 18.56 million RSF to 18.56 million RSF.
  • Manhattan Office Sublease vacancy decreased from 3.17 million RSF to 3.02 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 21.73 million RSF to 21.58 million RSF
  • Total Midtown Office vacancy decreased from 11.64 million RSF to 11.48 million RSF
  • Total Midtown South Office vacancy increased from 3.91 million RSF to 3.98 million RSF.
  • Total Downtown Office vacancy decreased from 6.19 million RSF to 6.12 million RSF



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