Optimal Spaces Inc. (lease office manhattan)
     
 
   


 Manhattan Market News

 Market Overview


April 2005 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 9.33 3.72 13.05 8.70% +2.40%
Midtown South Manhattan Office A 0.51 0.07 0.58 9.10% -1.91%
Downtown Manhattan Office A 5.38 1.64 7.02 11.80% +0.04%
Total Manhattan Office A 15.22 5.43 20.65 9.40% +1.48%
           
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 17.28 7.03 24.31 11.50% +2.98%
Midtown South Manhattan Office A 1.45 0.16 1.60 11.16% +1.81%
Downtown Manhattan Office A 8.41 3.12 11.53 16.06% -0.99%
Total Manhattan Office A 27.14 10.31 37.44 12.58% +1.71%
           

Manhattan Class A Office Vacancies

Manhattan Class A Office Vacancies
  • Total Manhattan Office Class A vacancies increased from 20.35 million RSF to 20.65 million RSF, and Total Market vacancies increased from 34.72 million RSF to 35.08 million RSF.



 NYC Market News

 Market Overview


 MANHATTAN TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Office 14.16 4.56 18.72 8.40% +1.47%
Midtown South Manhattan Office 4.77 0.74 5.51 7.90% +0.58%
Downtown Manhattan Office 8.82 2.03 10.85 12.30% +0.54%
Total Office Manhattan 27.75 7.33 35.08 9.10% +1.04%
           
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 23.79 8.31 32.11 10.66% +2.84%
Midtown South Manhattan Office 7.81 1.11 8.93 9.44% +0.13%
Downtown Manhattan Office 12.44 3.90 16.34 15.17% -0.72%
Total Office Manhattan 44.05 13.32 57.37 11.40% +1.40%
           

Manhattan Office Vacancy Market

Manhattan Office Vacancy Market

  • Total Manhattan Office Market Vacancies increased as Total Direct availability increased from 27.60 million RSF to 27.75 million RSF and Total Sublease Lease availability increased from 7.12 million RSF to 7.33 million RSF.

Manhattan Office Lease Market

Manhattan Office Rent Vacancy

  • Total Manhattan Office Direct Lease availability increased from 27.60 million RSF to 27.75 million RSF, while Total Sublease vacancies increased from 7.12 million RSF to 7.33 million RSF.

Manhattan Office Rent Vacancy by Area

Rent Office Manhattan by Area
  • Total Manhattan Office Market vacancy increased as Midtown South availability rose from 5.48 to 5.51 million RSF and Midtown availability increased from 18.45 million to 18.72 million RSF. However, Total Downtown Vacancy rates continued to increase from 10.79 million RSF to 10.85 million RSF.


Midtown Manhattan Office Rent

Midtown Manhattan Office Rent

  • Total Vacant Office space in Midtown increased despite a decrease in Total Direct availability from 14.19 to 14.16 million RSF. However, Total Sublease space availability increased from 4.26 to 4.56 million RSF.


Midtown South Manhattan Office Rent

Midtown South Manhattan Office Rent

  • Midtown South Office Direct Lease availability increased from 4.74 million RSF to 4.77 million RSF, while Sublease vacancies stayed constant at 0.74 million RSF.


Downtown Manhattan Office Rent

Downtown Manhattan Office Rent

  • Total Downtown Manhattan office vacancies increased due to an increase in Direct space from 8.67 million RSF to 8.82 million RSF, despite Sublease availability decreasing from 2.13 million RSF to 2.03 million RSF.





 New York City Market News

 Market Overview


 MANHATTAN RETAIL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Retail 0.26 0.00 0.26 6.30% +58.14%
Midtown South Manhattan Retail 0.17 0.01 0.18 3.40 % +11.36 %
Downtown Manhattan Retail 0.05 0.00 0.05 3.30% +0.74%
Total Retail 0.48 0.01 0.49 4.70% +34.93%
           
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 0.35 0.04 0.39 5.89% +34.44%
Midtown South Manhattan Retail 0.25 0.01 0.26 4.62% +10.08%
Downtown Manhattan Retail 0.06 0.00 0.06 3.49% +0.68%
Total Retail 0.66 0.05 0.71 5.08% +22.77%
           

Manhattan Retail Rent Vacancy

Manhattan Retail Rent Vacancy

  • Total Manhattan Retail availability increased significantly from 0.32 million RSF to 0.49 million RSF, led by an increase in Midtown availability from 0.11 to 0.26 million RSF while in Midtown South availability increased from 0.16 to 0.18 million RSF. In Downtown, availability remained constant at 0.05 million RSF.


 Manhattan Market News

 Market Overview


  MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.31 0.00 0.31 7.80% +5.14%
Midtown South Manhattan Industrial 0.28 0.00 0.28 4.50% -18.57%
Downtown Manhattan Industrial 0.03 0.00 0.03 4.50% 0.0%
Total Industrial 0.62 0.00 0.62 5.80% -5.79%
           
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 0.47 0.00 0.47 7.98% +3.42%
Midtown South Manhattan Industrial 0.34 0.00 0.34 4.38% -5.59%
Downtown Manhattan Industrial 0.03 0.00 0.03 4.48% 0.0%
Total Industrial 0.84 0.00 0.84 5.86% -0.36%
           


Manhattan Industrial Rent Vacancy

Manhattan Industrial Rent Vacancy

  • Total Manhattan Industrial Vacant space decreased from 0.66 to 0.62 million RSF. Midtown vacancy increased slightly from 0.30 to 0.31 million RSF. Midtown South vacancy rates dropped from 0.33 to 0.28 million RSF while Downtown vacancy rates continued to remain unchanged at 0.03 million RSF.