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September 2007

September 2007 » Market Analysis » New York Office Report

September 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 6.51 1.47 7.98 5.2 % -1.02 %
Midtown South Manhattan Office Class A 0.05 0.02 0.07 6.8 % -4.41 %
Downtown Manhattan Office Class A 3.18 0.37 3.54 6.0 % -14.27 %
Total Manhattan Office Class A 9.73 1.86 11.59 5.5 % -5.09 %
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 15.6 4.02 19.62 9.0 % -1.02 %
Midtown South Manhattan Office Class A 1.02 0.05 1.07 7.36 % abc -4.41 %
Downtown Manhattan Office Class A 4.38 0.86 5.24 7.39 % -13.48 %
Total Manhattan Office Class A 21.0 4.93 25.93 % 7.79 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 12.18 million RSF to 11.59 million RSF.
  • Total Manhattan Office Market vacancies decreased from 20.68 million RSF to 20.09 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 9.65 1.77 11.42 4.9 % 0.33 %
Midtown South Manhattan Office 2.5 0.31 2.81 4.8 % -4.48 %
Downtown Manhattan Office 5.22 0.64 5.87 6.9 % -8.49 %
Total Manhattan Office 17.37 2.72 20.09 5.3 % -2.92 %
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 4.99 23.51 7.53 % 0.33 %
Midtown South Manhattan Office 6.46 0.86 7.32 7.44 % abc -4.48 %
Downtown Manhattan Office 7.66 1.26 8.92 8.24 % -9.17 %
Total Manhattan Office 32.64 7.11 39.75 % -2.39 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 17.86 million RSF to 17.37 million RSF.
  • Manhattan Office Sublease vacancy decreased from 2.82 million RSF to 2.72 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 20.68 million RSF to 20.09 million RSF
  • Total Midtown Office vacancy increased from 11.38 million RSF to 11.42 million RSF.
  • Total Midtown South Office vacancy decreased from 2.94 million RSF to 2.81 million RSF
  • Total Downtown Office vacancy decreased from 6.36 million RSF to 5.87 million RSF



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