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October 2007

October 2007 » Market Analysis » New York Office Report

October 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 6.26 1.4 7.66 5.1 % -4.22 %
Midtown South Manhattan Office Class A 0.06 0.02 0.08 7.0 % 13.92 %
Downtown Manhattan Office Class A 3.04 0.41 3.45 5.9 % -2.72 %
Total Manhattan Office Class A 9.36 1.83 11.19 5.4 % -3.63 %
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 12.36 4.14 16.5 7.66 % -4.22 %
Midtown South Manhattan Office Class A 1.03 0.05 1.07 7.47 % abc 13.92 %
Downtown Manhattan Office Class A 4.17 0.84 5.01 7.02 % -4.49 %
Total Manhattan Office Class A 17.56 5.02 22.59 % -14.79 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 11.59 million RSF to 11.19 million RSF.
  • Total Manhattan Office Market vacancies decreased from 20.09 million RSF to 20.08 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.5 1.78 11.28 4.9 % -1.26 %
Midtown South Manhattan Office 2.67 0.38 3.04 5.0 % 7.69 %
Downtown Manhattan Office 5.12 0.64 5.76 6.7 % -1.81 %
Total Manhattan Office 17.29 2.8 20.08 5.3 % -0.06 %
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 18.52 5.04 23.56 7.51 % -1.26 %
Midtown South Manhattan Office 6.79 0.93 7.72 7.85 % abc 7.69 %
Downtown Manhattan Office 7.63 1.22 8.85 8.12 % -0.89 %
Total Manhattan Office 32.93 7.18 40.12 % 0.92 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 17.37 million RSF to 17.29 million RSF.
  • Manhattan Office Sublease vacancy increased from 2.72 million RSF to 2.8 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 20.09 million RSF to 20.08 million RSF
  • Total Midtown Office vacancy decreased from 11.42 million RSF to 11.28 million RSF
  • Total Midtown South Office vacancy increased from 2.81 million RSF to 3.04 million RSF.
  • Total Downtown Office vacancy decreased from 5.87 million RSF to 5.76 million RSF



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