Finance @apss2007

The Virtual Office Space of Manhattan is much more as compared that of the New York Office Space. The Virtual space of Manhattan is generally into classes. Two of its classes are illustrated below:

Class C divides the sub markets of Manhattan as follows: The Midtown having an area of around 30,000,000 square feet, the Midtown South having an area of around 35,000,000 square feet, the Downtown is having an area of around 7,600,000 square feet and the uptown having an area of around 4,800,000 square feet.

So in class-C, the Midtown south has the maximum area out of all the four sub markets and it is around 35,000,000 square feet. Also the Uptown has the minimum area out of all the four sub markets and it is around 4,800,000 square feet.

A large number of tenants that are individuals in the Space Market of Manhattan very truly occupy an area of over 10,000 square feet. Around 80% of the total space inventory of Manhattan in the New York City is very truly covered by all these individual tenants.

The biggest industry in the space market of Manhattan in the New York City is known as FIRE. This FIRE industry very truly covers almost 30% of the total office space of Manhattan in the New York City. Law Firms generally use the square footage on the basis of per employee. On an average they use almost around 465 square feet per employee and this can very truly affect the law firm’s bottom line.