Optimal Spaces Inc. (lease office manhattan)
 
 
   


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

July 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 7.74 1.37 9.10 5.70% -7.84%
New York City Midtown South Office A 0.46 0.12 0.59 5.20% +0.34%
New York City Downtown Office A 5.71 1.25 6.96 10.00% -0.88%
Total Office A 13.91 2.74 16.65 6.80% -4.64%
 
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 14.51 4.67 19.18 8.97% -6.56%
New York City Midtown South Office A 0.64 0.20 0.84 6.29% -1.67%
New York City Downtown Office A 6.79 1.74 8.53 12.06% +4.10%
Total New York City Office A 21.94 6.61 28.55 9.58% -3.32%
 
 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 11.22 2.08 13.00 5.70% -4.74%
New York City Midtown South Office 3.79 0.51 4.30 5.70% -3.00%
New York City Downtown Office 8.23 1.58 9.81 10.50% -3.98%
Total New York City Office 23.25 4.17 27.41 6.60% -4.19%
 
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 26.00 5.76 26.00 8.46% -5.77%
New York City Midtown South Office 7.05 0.95 7.99 8.24% -1.37%
New York City Downtown Office 9.96 2.48 12.44 11.63% -0.19%
Total New York City Office 37.25 9.18 46.43 9.08% -3.52%
 

New York City Class A Office Rent

New York City Class A Office Rent
  • Total Manhattan Office Class A vacancies decreased from 17.43 million RSF to 16.65 million RSF.
  • Total market vacancy decreased from 28.56 million RSF to 27.41 million RSF.


New York City Office Rent Vacancy

New York City Office Rent
  • Total Manhattan Office direct lease vacancy decreased from 24.12 million RSF to 23.25 million RSF.
  • Total sublease vacancy decreased from 4.44 to 4.17 million RSF.


New York City Office Rent Vacancy by Area

New York City Office Rent Vacancy by Area
  • Total Manhattan Office Market vacancies decreased as Midtown South Office vacancy fell from 4.43 to 4.30 million RSF. Midtown Office vacancy dropped from 13.93 million to 13.30 million RSF and total Manhattan Downtown Office vacancy rates decreased from 10.20 million RSF to 9.81 million RSF.


New York City Midtown Office Rent

New York City Rent Office Midtown

  • Total vacant Office Space in Midtown Manhattan decreased led by a decrease in total direct lease space from 11.85 to 11.22 million RSF. Total vacant sublease space remained at 2.28 to 2.08 million RSF.

Midtown South New York City Office Rent

New York City Rent Office Midtown South

  • Midtown South Office direct lease vacancy increased from 3.73 million RSF to 3.79 million RSF, while sublease vacancies fell from 0.71 to 0.51 million RSF.

New York City Downtown Office Rent

Rent New York City Office Downtown
  • Total Downtown Manhattan Office vacancies decreased with direct lease space decreasing from 8.55 million RSF to 8.23 million RSF and sublease vacancy increasing from 1.65 to 1.58 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 0.13 0.01 0.14 1.70% -15.50%
New York City Midtown South Retail 0.36 0.04 0.40 7.90% +11.87%
New York City Downtown Retail 0.15 0.00 0.15 7.40% +15.33%
Total Retail 0.63 0.05 0.68 4.30% +7.19%
 
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 0.34 0.01 0.35 3.41% -6.55%
New York City Midtown South Retail 0.55 0.05 0.60 10.59% +11.89%
New York City Downtown Retail 0.18 0.01 0.19 8.51% +12.83%
Total Retail 1.07 0.06 1.14 6.23% +6.34%
 

New York City Retail Rent Vacancy

Rent New York City Retail

  • Total available Manhattan Retail Space rose from 0.63 to 0.68 million RSF. Midtown South Retail space vacancies rose from 0.32 to 0.36 million RSF while in Midtown vacancy dropped from 0.16 to 0.14 million RSF. In Downtown, vacancy rose from 0.13 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 0.18 0.00 0.18 3.10% +9.04%
New York City Midtown South Industrial 0.12 0.00 0.12 1.80% -9.24%
New York City Downtown Industrial 0.00 0.00 0.00 0.00% 0.00%
Total Industrial 0.29 0.00 0.30 2.30% +1.72%
 
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 0.20 0.00 0.20 3.47% 6.50%
New York City Midtown South Industrial 0.21 0.00 0.21 3.10% -5.14%
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% +0.46%
 


New York City Industrial Rent Vacancy

Rent New York City Industrial Space

  • Total vacant Manhattan Industrial Space increased slightly from 0.29 at 0.30 million RSF. Midtown Vacancy rates increased from 0.16 to 0.18 while Midtown South Vacancy rates decreased from 0.13 to 0.12 million RSF respectively.