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November 2007

November 2007 » Market Analysis » New York Office Report

November 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 6.53 1.38 7.91 5.3 % 3.21 %
Midtown South Manhattan Office Class A 0.06 0.02 0.08 9.2 % 4.82 %
Downtown Manhattan Office Class A 2.79 0.56 3.36 6.0 % -2.74 %
Total Manhattan Office Class A 9.38 1.97 11.35 5.6 % 1.46 %
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 14.86 4.11 18.97 8.69 % 3.21 %
Midtown South Manhattan Office Class A 1.35 0.04 1.39 9.44 % abc 4.82 %
Downtown Manhattan Office Class A 3.89 1.03 4.91 6.87 % -2.08 %
Total Manhattan Office Class A 20.1 5.17 25.27 % 10.61 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies increased from 11.19 million RSF to 11.35 million RSF
  • Total Manhattan Office Market vacancies increased from 20.08 million RSF to 21.16 million RSF
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.54 1.83 11.37 4.9 % 0.79 %
Midtown South Manhattan Office 3.71 0.38 4.09 6.3 % 25.63 %
Downtown Manhattan Office 4.91 0.79 5.7 6.8 % -1.07 %
Total Manhattan Office 18.16 3.0 21.16 5.6 % 5.09 %
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 20.12 5.1 25.22 7.96 % 0.79 %
Midtown South Manhattan Office 7.0 0.92 7.91 8.08 % abc 25.63 %
Downtown Manhattan Office 7.35 1.41 8.76 8.03 % -1.02 %
Total Manhattan Office 34.47 7.42 41.89 % 4.22 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy increased from 17.29 million RSF to 18.16 million RSF.
  • Manhattan Office Sublease vacancy increased from 2.8 million RSF to 3.0 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy increased from 20.08 million RSF to 21.16 million RSF.
  • Total Midtown Office vacancy increased from 11.28 million RSF to 11.37 million RSF.
  • Total Midtown South Office vacancy increased from 3.04 million RSF to 4.09 million RSF.
  • Total Downtown Office vacancy decreased from 5.76 million RSF to 5.7 million RSF



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