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November 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 | 8.73 | 2.25 | 10.98 | 6.1 % | 6.01 % |
| Midtown South Manhattan Office Class A | 0.61 | 0.02 | 0.63 | 8.3 % | 73.06 % |
| Downtown Manhattan Office Class A | 2.39 | 1.4 | 3.79 | 6.0 % | 8.36 % |
| Total Manhattan Office Class A | 11.74 | 3.66 | 15.4 | 6.2 % | 9.34 % |
| 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 | 18.91 | 5.8 | 24.71 | 11.2 % | 6.01 % |
| Midtown South Manhattan Office Class A | 1.18 | 0.11 | 1.29 | 8.96 % abc | 73.06 % |
| Downtown Manhattan Office Class A | 14.11 | 2.11 | 16.22 | 19.75 % | 56.48 % |
| Total Manhattan Office Class A | 34.2 | 8.03 | 42.23 | % | 25.52 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 13.97 million RSF to 15.4 million RSF
- Total Manhattan Office Market vacancies increased from 24.26 million RSF to 26.52 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 12.09 | 2.73 | 14.82 | 5.7 % | 5.33 % |
| Midtown South Manhattan Office | 5.04 | 0.58 | 5.62 | 7.0 % | 17.58 % |
| Downtown Manhattan Office | 4.45 | 1.64 | 6.09 | 6.6 % | 7.9 % |
| Total Manhattan Office | 21.58 | 4.94 | 26.52 | 6.1 % | 8.51 % |
| 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 | 24.41 | 6.92 | 31.33 | 9.74 % | 5.33 % |
| Midtown South Manhattan Office | 7.69 | 1.33 | 9.02 | 9.0 % abc | 17.58 % |
| Downtown Manhattan Office | 17.77 | 2.52 | 20.29 | 16.86 % | 47.14 % |
| Total Manhattan Office | 49.86 | 10.77 | 60.64 | % | 19.0 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 20.03 million RSF to 21.58 million RSF.
- Manhattan Office Sublease vacancy increased from 4.23 million RSF to 4.94 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 24.26 million RSF to 26.52 million RSF.
- Total Midtown Office vacancy increased from 14.03 million RSF to 14.82 million RSF.
- Total Midtown South Office vacancy increased from 4.63 million RSF to 5.62 million RSF.
- Total Downtown Office vacancy increased from 5.61 million RSF to 6.09 million RSF.
