Optimal Spaces Inc. (lease office manhattan)
 
 
   


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

April 2006 Graphs and Statistics

 
 NEW YORK CITY CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet))
   Direct  Sublease  Total  % Vacant  % Monthly
Change
New York City Midtown Office A 8.84 1.78 10.63 6.40% -1.20%
New York City Midtown South Office A 0.47 0.13 0.60 5.70% +2.50%
New York City Downtown Office A 4.26 1.33 5.59 9.60% -4.70%
Total Office A 13.57 3.25 16.82 7.10% -2.23%
 
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
New York City Midtown Office A 15.87 4.90 20.78 9.77% +5.96%
New York City Midtown South Office A 0.68 0.19 0.86 6.57% 0.00%
New York City Downtown Office A 6.61 1.91 8.52 12.11% -5.53%
Total Office A 23.16 7.00 30.16 10.18% +2.55%
 
 NEW YORK CITY TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
New York City Midtown Office 12.64 2.29 14.92 6.10% -1.96%
New York City Midtown South Office 3.43 0.55 3.98 5.30% -2.26%
New York City Downtown Office 7.17 1.67 8.84 10.30% -4.11%
Total Office 23.23 4.50 27.74 6.80% -2.69%
 
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
New York City Midtown Office 21.62 6.13 27.75 9.07% +4.44%
New York City Midtown South Office 6.86 0.93 7.79 8.04% +3.61%
New York City Downtown Office 10.00 2.70 12.70 11.97% -4.75%
Total Office 38.48 9.75 48.23 9.48% +1.89%
 

New York City Class A Office Rent

Manhattan Class A Office Rent
  • Total New York City Office Class A vacancies decreased from 17.20 million RSF to 16.82 million RSF.
  • Total New York City Office market vacancy decreased from 28.48 million RSF to 27.74 million RSF.


New York City Office Rent Vacancy

Manhattan Office Rent
  • Total New York City Office direct lease vacancy decreased from 24.17 million RSF to 23.23 million RSF.
  • Sublease vacancy increased from 4.31 to 4.50 million RSF.


New York City Office Rent Vacancy by Area

Manhattan Office Rent Vacancy by Area
  • Total New York City Office Market vacancies decreased for the first time in 3 months.
  • Midtown South Office vacancy dropped from 4.07 to 3.98 million RSF.
  • Midtown Office vacancy dropped from 15.22 million to 14.92 million RSF.
  • Total New York City Downtown Office vacancy rates also decreased from 9.20 million RSF to 8.84 million RSF.


New York City Midtown Office Rent

Manhattan Rent Office Midtown

  • Total vacant Office Space in New York City Midtown decreased led by a decrease in total direct lease space from 13.13 to 12.64 million RSF.
  • Total vacant sublease space increased from 2.08 to 2.29 million RSF.

Midtown South New York City Office Rent

Manhattan Rent Office Midtown South
  • Midtown South New York City Office direct lease vacancy decreased from 3.56 million RSF to 3.43 million RSF.
  • Midtown South New York City Office sublease vacancies rose from 0.51 to 0.55 million RSF.

New York City Downtown Office Rent

Rent Manhattan Office Downtown

  • Total New York City Downtown Office vacancies decreased with direct lease space decreasing from 7.48 million RSF to 7.17 million RSF.
  • Total New York City Downtown sublease vacancy decreasing from 1.72 to 1.67 million RSF.
  NEW YORK CITY RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
New York City Midtown Retail 0.12 0.01 0.13 2.00% +2.27%
New York City Midtown South Retail 0.29 0.01 0.30 6.50% +12.71%
New York City Downtown Retail 0.15 0.00 0.15 3.80% +20.81%
Total Retail 0.56 0.02 0.58 3.70% +12.41%
 
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 0.28 0.01 0.28 3.37% +6.01%
New York City Midtown South Retail 0.40 0.02 0.42 7.88% -5.04%
New York City Downtown Retail 0.19 0.00 0.19 4.39% +18.95%
Total Retail 0.86 0.03 0.89 5.01% +3.60%
 

New York City Retail Rent Vacancy

Rent Manhattan Retail
  • Total available New York City Retail Space rose from 0.51 to 0.58 million RSF.
  • Midtown South Retail space vacancies rose from 0.25 to 0.29 million RSF.
  • Midtown vacancy remained set at 0.13 million RSF.
  • In Downtown, vacancy rose from 0.12 to 0.15 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 2.90% +4.40%
New York City Midtown South Industrial 0.13 0.00 0.13 2.00% -10.08%
New York City Downtown Industrial 0.00 0.00 0.00 0.00% 0.00%
Total Industrial 0.29 0.00 0.29 2.30% -2.08%
 
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 3.29% +1.05%
New York City Midtown South Industrial 0.21 0.00 0.21 3.03% -3.76%
New York City Downtown Industrial 0.02 0.00 0.02 2.83% 0.00%
Total Industrial 0.42 0.00 0.42 3.14% -1.43%
 


New York City Industrial Rent Vacancy

Rent Manhattan Industrial Space
  • Total vacant New York City Industrial Space remained at 0.29 million RSF.
  • Midtown vacancy increased from 0.15 million RSF to 0.16 million RSF.
  • Midtown South vacancy decreased from 0.14 to 0.13 million RSF.