Optimal Spaces Inc. (lease office manhattan)
 
 
   

New York Real Estate News Archive 2006 News December 2006 Real Estate Report December 2006

December 2006 Graphs and Statistics

 
 MANHATTAN CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office A 6.62 1.83 8.45 5.2 % -2.12 %
Midtown South Manhattan Office A 0.46 0.07 0.53 5.2 % -1.87 %
Downtown Manhattan Office A 4.52 0.72 5.24 10.8 % -3.19
Total Office A 11.6 2.622 14.226 6.6 % -2.5 %
           
MANHATTAN 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 A 12.68 4.65 17.32 8.12 % -1.46 %
Midtown South Manhattan Office A 0.6 0.11 0.71 5.67 % -4.07 %
Downtown Manhattan Office A 5.84 1.27 7.11 9.91 % -1.6 %
Total Office A 19.12 6.025 25.147 8.45 % -1.57 %
           
 MANHATTAN TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office 9.59 2.21 11.8 4.9 % -1.83 %
Midtown South Manhattan Office 3.8 0.51 4.3 5.3 % -1.25 %
Downtown Manhattan Office 6.59 1 7.59 10.2 % -4.26 %
Total Manhattan Office 19.98 3.716 23.689 6.1 % -2.5 %
           
MANHATTAN 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 17.9 5.77 23.67 7.7 % -0.6 %
Midtown South Manhattan Office 6.43 0.89 7.32 7.7 % -2.88 %
Downtown Manhattan Office 8.76 1.73 10.49 9.77 % -3.71 %
Total Manhattan Office 33.09 8.385 41.483 8.13 % -1.79 %
           

Manhattan Class A Office Rent

Manhattan Class A Office Rent
  • Total Manhattan Office Class A vacancies decreased from 14.58 million RSF to 14.23 million RSF.
  • Total vacancy decreased from 24.28 million RSF to 23.69 million RSF.


Manhattan Office Rent Vacancy

Manhattan Office Rent

  • Total Manhattan Office direct lease vacancy decreased from 20.57 million RSF to 19.98 million RSF.
  • Sublease vacancy stayed at 3.72 million RSF.


Manhattan Office Rent Vacancy by Area

Manhattan Office Rent Vacancy by Area
  • Total Manhattan Office Market vacancies decreased from 24.28 million RSF to 23.69 million RSF.
  • Midtown South Office vacancy decreased from 4.36 million RSF to 4.30 million RSF.
  • Total Midtown Office vacancy dropped from 12.01 million RSF to 11.80 million RSF.
  • Total Manhattan Downtown vacancy decreased from 7.91 million RSF to 7.59 million RSF.


Midtown Manhattan Office Rent

Rent Office Manhattan Midtown
  • Total vacant Office Space in Midtown Manhattan in sublease space rose from 2.09 to 2.212 million RSF.
  • Total vacant direct space decreased from 9.93 million RSF to 9.59 million RSF.

Midtown South Manhattan Office Rent

Rent Office Manhattan Midtown South
  • Midtown South Office direct lease vacancy rose from 3.79 million RSF to 3.80 million RSF.
  • Sublease vacancies decreased from 0.56 to 0.50 million RSF.

Downtown Manhattan Office Rent

Rent Manhattan Office Downtown

  • Total Downtown Manhattan Office vacancies decreased with direct lease space decreasing from 6.84 million to 6.59 million RSF.
  • Total vacant sublease space continues to decrease from 1.07 to 0.99 million RSF.
  MANHATTAN RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.16 0.02 0.17 1.8 % -2.89 %
Midtown South Manhattan Retail 0.43 0.02 0.46 7.5 % 11.18 %
Downtown Manhattan Retail 0.14 0 0.14 6.2 % -6.94 %
Total Retail 0.73 0.043 0.773 4.3 % 4.66 %
           
MANHATTAN RETAIL VACANT SPACES NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.45 0.02 0.47 4.52 % 15.22 %
Midtown South Manhattan Retail 0.62 0.03 0.66 9.87 % 8.85 %
Downtown Manhattan Retail 0.18 0 0.18 6.62 % -3.91 %
Total Retail 1.25 0.061 1.307 6.6 % 9.41 %
           

Manhattan Retail Rent Vacancy

Rent Manhattan Retail
  • Total available Manhattan Retail Space rose from 0.74 to 0.77 million RSF.
  • Midtown South Retail space vacancies rose from 0.41 to 0.46 million RSF.
  • Midtown vacancy dropped from 0.18 million RSF to 0.17 million RSF.
  • In Downtown, retail vacancy dropped from 0.15 million RSF to 0.14 million RSF.

  MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.16 0 0.16 3 % 0 %
Midtown South Manhattan Industrial 0.14 0 0.14 20 % 57.78%
Downtown Manhattan Industrial 0.04 0.01 0.05 0.7 % 0 %
Total Industrial 0.34 0.007 0.344 2.4 % 35.76 %
           
MANHATTAN INDUSTRIAL VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.16 0 0.16 2.91 % -15.24 %
Midtown South Manhattan Industrial 0.7 0 0.7 9.53 % 82.34 %
Downtown Manhattan Industrial 0.04 0.01 0.05 0.01 % 0 %
Total Industrial 0.9 0.007 0.911 6.72 % 65.64 %
           


Manhattan Industrial Rent Vacancy

Rent Manhattan Industrial Space
  • Total vacant Manhattan Industrial Space rose from 0.22 to 0.34 million RSF.
  • Midtown Vacancy stayed at 0.16 million RSF.
  • Midtown South Vacancy rose from 0.06 to 0.14 million RSF.