Optimal Spaces Inc. (lease office manhattan)
     


 
     
 

New York City Real Estate News Archive:

Optimal Spaces in the News:
 

 

Manhattan Real Estate News Archive for 2008 2002 Manhattan Real Estate News Archive

 

July 2008
Major blocks of office space coming back onto the market as wall street firms and banks lay off workers.

 

April 2008

 
 

June 2008
Office vacancies continue to increase slowly, but will substantially increase due to the recent Wall Street and bank layoffs as the surplus of office space comes back to the market. In addition, Bank of America is moving to its new headquarters and will release or sublease its former occupied space.

 

April 2008

 
 

May 2008
Last month, office vacancies increased in Midtown and Downtown due to the recent financial layoffs resulting in space being given back, as either direct or sublease space. As a result, Landlords’ are starting to drop rents.

 

April 2008

 
 

April 2008
The office and retail markets are starting to cool from all time highs, as Banks and Investment Banks continue layoffs, 34,400 layoffs in the last six months. These financial firms are now releasing unused and expansion space back to the market which total more than 2.5 million square feet with more to follow. There are still a number of large users looking for space, but now there is more of a selection and as a result pricing and terms will improve.

 

April 2008

 
 

March 2008
The Manhattan office market showed signs of a slowdown in the fourth quarter of 2007, as a streak of four straight quarters of positive absorption ended with 734,662 square feet of space going back on the market.

 

March 2008

 
 

February 2008
Manhattan office rents have peaked at $225/RSF, making New York the 3rd most expensive office market in the world and highest in the United States. The recent bad news for Wall Street may mean reduced office and retail rents in Manhattan as the banks and investment banks sublease or vacate space.
 

February 2008

 
 

January 2008
There are 9,072,684 RSF of office space under construction and more office space contemplated and many additional office buildings contemplated. The big question is which will Wall Street and hedge funds start will lay off and how much will they lay and whether the other firms will go back to buisness as usual? Stay tuned.
 

January 2008


 

New York Real Estate News Archive for 2007 2002 Manhattan Real Estate News Archive

  
  December 2007 --Demand for Manhattan office space exceeds the pace of new construction... December 2007
  November 2007 -- Manhattan office and rental rates have stalled, at an all time high, as vacancy rates start to increase modestly... November 2007
  October 2007 -- With Class A market vacancies in Midtown at 5.1%, (levels not seen since 2001), Landlords are competing... October 2007
  September 2007 -- Tightening credit may mean the end of the acquisition frenzy and trouble for buyers of recent deals ... September 2007
  August 2007 -- The office market is red hot with little space... August 2007
  July 2007 -- Manhattan rents continue to increase while vacancies throughout Manhattan decrease... July 2007
  June 2007 -- Retail and Office tenants are in for a rude surprise as the city assessments and lease escalations dramatically rise... June 2007
  May 2007 -- Hot. Hot. Hot. As the temperatures rise, the market is heating up... May 2007
  April 2007 -- Office and Retail Rental Rates in Manhattan continue to increase as they have in the past 21 months... April 2007
  March 2007 -- Manhattan office rents increased rapidly, while vacancies in the Midtown, Midtown South and Downtown areas.. March 2007
  February 2007 -- Midtown and Downtown Manhattan office rents continue to increase and Landlords are becoming more aggressive... February 2007
  January 2007 -- Two of the largest building sales in Manhattan history occurred last month... January 2007

 

Manhattan Real Estate News Archive for 2006 2002 Manhattan Real Estate News Archive

  
  December 2006 -- The Manhattan office market continues to tighten... December 2006
  November 2006 -- Now that numerous office leases are over $100/SF the economics are good to build new office product... November 2006
  October 2006 -- The Metropolitan Transportation Authority has agreed to sell the air rights from the eastern yard to the City ... October 2006
  September 2006 -- If you think the Manhattan commercial real estate market was tight before, think again... September 2006
  August 2006 -- Manhattan office and retail rents are rising and should continue to rise over the next two years... August 2006
  July 2006 -- Midtown Manhattan rents are near an all time high... July 2006
  June 2006 -- Midtown Office space continues to tighten while Midtown South and Downtown vacancy increase... June 2006
  May 2006 -- Office space continues to tighten in Midtown with no end in sight... May 2006
  April 2006 -- Downtown rents have risen 10-20% over the last two months for Class B and C Buildings... April 2006
  March 2006 -- Total office vacancies increase in Midtown and Downtown for the second straight month... March 2006
  February 2006 -- This year, a record number of leases higher than $100 per square foot have been signed.. February 2006
  January 2006 -- 2005 ended like it started, with office vacancy rates dropping to new lows, reaching under 6% in Midtown and ... January 2006

 

NYC Real Estate News Archive for 2005 2002 Manhattan Real Estate News Archive

  
  December 2005 -- The Manhattan office market continues to tighten to record low vacancies... December 2005
  November 2005 -- The overall office market in Manhattan continues the long trend of tightening. November 2005
  October 2005 -- Office rents in Midtown moderated as the office market cooled over the summer. October 2005
  September 2005 -- Office rents in Midtown moderated as the office market cooled over the summer. September 2005
  August 2005 -- The market continues to tighten as the employment continues to increase and demand is strong. August 2005
  July 2005 -- Two more sports stadiums are announced ( Mets and Yankees) bring the total to four proposed stadiums in NYC. July 2005
  June 2005 -- The market continues to tighten as new construction is delayed and existing space gets absorbed. June 2005
  May 2005 -- The Consumer Price Index (CPI) rose 1.7 percent in the New York City area, the largest month-over-month increase... May 2005
  April 2005 -- It was a busy month with an active Manhattan leasing market, New York building sales and the New York Jets... April 2005
  March 2005 -- With an 8.6% vacancy rate and little new construction planned, the Midtown office market continues to tighten. March 2005
  February 2005 -- Midtown and Soho Landlords continue to test the market to see how high they can raise their rents while... February 2005
  January 2005 -- Landlords in the Plaza district have hopes of getting $100/RSF again with the General Motors building already there. January 2005

 

Manhattan Real Estate News Archive for 2004 2002 Manhattan Real Estate News Archive

  
  December 2004 -- Office vacancy declines as the local economy improves and NY unemployment declines to 6.1%. December 2004
  November 2004 -- The Office Market continues to tighten with no new buildings until the 3rd quarter of 2005... November 2004
  October 2004 -- Landlords are feeling upbeat based on the declining vacancy figures for class A office are down to 10.5% from 10.6%... October 2004
  September 2004 -- Landlords are optimistic about rents rising and are slowly raising rents and decreasing concessions... September 2004
  August 2004 -- The downtown markets slowly deteriorate as new buildings are built and additional spaces are vacated as companies... August 2004
  July 2004 -- New York City's unemployment rate fell for a fourth consecutive month, dropping to 7%, as compared to a year earlier when... July 2004
  June 2004 -- Downtown vacancy increased while Midtown and Midtown South vacancy remained largely unchanged. June 2004
  May 2004 -- Class A Manhattan office rental market vacancies increased by 4.89% this month after declining for the past 5 months... May 2004
  April 2004 -- Vacancy rates continue to decline, combined with strong demand, limited new construction and ... April 2004
  March 2004 -- Class A New York Office rental market continues to tighten and rents start to rise as the economy recovers. March 2004
  February 2004 -- Vacancy rates decrease in Midtown and Downtown as major space commitments are made. February 2004
  January 2004 -- Rents are off their recent lows as landlord's expectations of future market conditions have begun to change... January 2004

 

New York City Real Estate News Archive for 2003 2002 Manhattan Real Estate News Archive

  
  December 2003 -- The Midtown, Midtown South and Downtown markets were relatively flat with minor tightening, as prices remained... December 2003
  November 2003 -- The Total Manhattan Office lease market remained flat, with vacancies increasing slightly from 47.68 million RSF to... November 2003
  October 2003 -- As Manhattan office, retail and industrial vacancies continue to decline, landlords are starting to decrease... October 2003
  September 2003 -- The Buildings for Sale Market remains robust with no sign of letting up in the short term. September 2003
  August 2003 -- Signs of economic recovery appear as Wall Street layoffs abate, low interest rates continue and threats of war... August 2003
  July 2003 -- Several major corporations have relocated within Manhattan by signing large long-term leases... July 2003
  June 2003 -- There are some signs of improvement in the commercial real estate market in Manhattan. June 2003
  May 2003 -- Huge City and State budget deficits will pose two risks to the already fragile NYC economy. May 2003
  April 2003 -- With the war in Iraq now in full bloom, apprehension over a prolonged conflict coupled with a lackluster economic outlook ... April 2003
  March 2003 -- Prices continued to soften as major landlords offered further 10-15% price reductions. March 2003
  February 2003 -- In the past 30 days, Manhattan vacant office space increased by 1.93 million Rentable Square Feet (RSF). February 2003
  January 2003 -- Office vacancy rates continue their consecutive monthly decline in Manhattan as major firms make major long-term... January 2003

 

Manhattan Real Estate News Archive for 2002 2002 Manhattan Real Estate News Archive

  
  December 2002 -- Continued Wall Street layoffs and the new Federal White Paper requiring financial firms to be diversified... December 2002
  November 2002 -- Midtown sublease prices in Class "A" (Fancy new building) buildings are amazingly low. November 2002
  October 2002 -- Prices continue to drift downward as companies are holding off on finalizing leasing decisions. October 2002
  September 2002 -- Prices continue to drift downward as more space comes on the market and companies are being cautious in... September 2002
  August 2002 -- Commercial vacancies continue to mount as more space continues to come on the market. August 2002
  July 2002 -- Prices continue to slide as the amount of vacant space continues to rise with rents now being 50% lower than a year ago. July 2002
  June 2002 -- Effective rents of Downtown spaces with economic incentives are phenomenal deals. June 2002
  May 2002 -- Phenomenal prices abound for commercial space throughout Manhattan. May 2002
  April 2002 -- Market activity was up dramatically last month, after being subdued for three to four months. April 2002
  March 2002 -- Market availabilities are relatively unchanged in past 30 days with prices drifting slightly downward. March 2002
  February 2002 -- 3,500,000 feet in the most desirable office buildings and 4,500,000 feet of Class B and C office space have been... February 2002
  January 2002 -- Rental prices continue to moderate with more free rent and work being offered. January 2002