Optimal Spaces Inc. (lease office manhattan)
 
 
  


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

February 2006 Graphs and Statistics

 
 NEW YORK CITY CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office A 8.90 1.63 10.53 6.40% +0.29%
Midtown South Manhattan Office A 0.46 0.11 0.57 5.80% -5.23%
Downtown Manhattan Office A 4.35 1.38 5.73 9.60% -1.06%
Total New York City Office A 13.72 3.12 16.83 7.20% -0.36%
 
NEW YORK CITY 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 14.72 4.43 19.15 9.11% -2.87%
Midtown South Manhattan Office A 0.69 0.13 0.82 6.33% -2.67%
Downtown Manhattan Office A 7.06 2.27 9.33 13.13% +0.47%
Total Manhattan Office A 22.47 6.84 29.30 9.96% -1.80%
 
 NEW YORK CITY TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office 12.79 2.16 14.95 6.20% +0.33%
Midtown South Manhattan Office 3.86 0.44 4.29 5.50% +5.80%
Downtown Manhattan Office 7.24 1.72 8.96 10.30% -0.95%
Total Manhattan Office 23.88 4.31 28.20 7.00% +0.76%
 
NEW YORK CITY 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 20.59 5.60 26.19 8.63% +0.55%
Midtown South Manhattan Office 6.90 0.74 7.63 7.97% +0.39%
Downtown Manhattan Office 10.43 3.04 13.47 12.60% +0.10%
Total Manhattan Office 37.91 9.38 47.29 9.34% +0.39%
 

New York City Class A Office Rent

New York City Class A Office Rent
  • Total New York City Office Class A vacancies decreased from 16.89 million RSF to 16.83 million RSF.
  • Total New York City Market vacancy increased from 27.98 million RSF to 28.20 million RSF.


New York City Office Rent Vacancy

New York City Office Rent Vacancy

  • Total New York City Office direct lease vacancy increased from 23.46 million RSF to 23.88 million RSF
  • Total sublease vacancy decreased from 4.52 million RSF to 4.31 million RSF.


New York City Office Rent Vacancy by Area

New York City Office Rent Vacancy by Area
  • Total New York City Office Market vacancies increased for the first time in several months.
  • Midtown South Office vacancy rose from 4.05 to 4.29 million RSF.
  • Midtown Office vacancy rose from 14.90 million to 14.95 million RSF.
  • However, Total New York City Downtown Office vacancy rates decreased from 9.04 million RSF to 8.96 million RSF.


Midtown Manhattan Office Rent

Midtown Manhattan Office Rent

  • Total vacant Office Space in Midtown Manhattan increased led by a increase in total direct lease space from 12.45 to 12.79 million RSF.
  • Total vacant sublease space decreased from 2.45 to 2.16 million RSF.

Midtown South Manhattan Office Rent

Midtown South Manhattan Office Rent

  • Midtown South Office direct lease vacancy increased from 3.65 million RSF to 3.86 million RSF.
  • idtown South sublease vacancies rose from 0.40 to 0.44 million RSF.

Downtown Manhattan Office Rent

Downtown Manhattan Office Rent

  • Total Downtown Manhattan Office vacancies decreased with direct lease space dropping from 7.36 million RSF to 7.24 million RSF.
  • Total Downtown Manhattan Office sublease vacancy increasing from 1.68 million RSF to 1.72 million RSF.

  NEW YORK CITY RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.12 0.01 0.13 2.00% +21.26%
Midtown South Manhattan Retail 0.24 0.01 0.24 4.50% -1.63%
New York City Downtown Retail 0.10 0.00 0.10 4.60% +6.73%
Total Retail 0.46 0.01 0.48 3.40% +6.29%
 
NEW YORK CITY RETAIL VACANT SPACES NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
New York City Midtown Retail 0.26 0.00 0.26 3.26% +18.94%
New York City Midtown South Retail 0.46 0.01 0.46 7.09% -0.86%
New York City Downtown Retail 0.14 0.00 0.15 5.86% +7.95%
Total Retail 0.86 0.02 0.87 5.09% +6.59%
 

New York City Retail Rent Vacancy

New York City Retail Rent Vacancy
  • Total available New York City Retail Space rose from 0.45 to 0.48 million RSF.
  • Midtown South Retail space vacancies held steady at 0.25 million RSF.
  • Midtown vacancy rose from 0.10 to 0.13 million RSF.
  • In Downtown, vacancy remained set at 0.10 million RSF.

  NEW YORK CITY INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
New York City Midtown Industrial 0.16 0.00 0.16 2.80% -16.56%
New York City Midtown South Industrial 0.14 0.00 0.14 2.20% -16.20%
New York City Downtown Industrial 0.00 0.00 0.00 0.00% 0.00%
Total Industrial 0.30 0.00 0.30 2.40% -16.39%
 
NEW YORK CITY INDUSTRIAL VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
   Direct  Sublease  Total % Vacant  % Monthly
Change
New York City Midtown Industrial 0.19 0.00 0.19 3.30% -10.47%
New York City Midtown South Industrial 0.22 0.00 0.22 3.23% -6.33%
New York City Downtown Industrial 0.02 0.00 0.02 2.83% 0.00%
Total Industrial 0.43 0.00 0.43 3.25% -7.93%


New York City Industrial Rent Vacancy

New York City Industrial Rent Vacancy
  • Total vacant New York City Industrial Space decreased from 0.35 to 0.30 million RSF.
  • Midtown vacancy decreased to 0.16 million RSF from 0.18 million RSF.
  • Midtown South vacancy dropped from 0.17 to 0.14 million RSF.