Optimal Spaces Inc. (lease office manhattan)
     
 
   


 Manhattan Market News

 Market Overview


February 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 9.90 3.48 13.38 9.20% -1.32%
Midtown South Manhattan Office A 0.53 0.05 0.58 9.60% -1.90%
Downtown Manhattan Office A 5.25 1.51 6.76 11.90% +0.19%
Total Manhattan Office A 15.68 5.04 20.72 9.90% -0.84%
           
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 17.67 6.08 23.74 11.28% -1.41%
Midtown South Manhattan Office A 1.42 0.21 1.64 11.37% +0.12%
Downtown Manhattan Office A 8.57 2.88 11.45 15.90% -0.86%
Total Manhattan Office A 27.66 9.17 36.83 12.40% -1.17%
           

Manhattan Class A Office Vacancies

Manhattan Class A Office Vacancies
  • Total Manhattan Office Class A vacancies decreased from 20.89 million RSF to 20.72 million RSF, while Total Market vacancies increased slightly from 35.37 million RSF to 35.43 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 14.92 4.26 19.18 8.80% -0.68%
Midtown South Manhattan Office 4.97 0.75 5.71 8.00% -0.04%
Downtown Manhattan Office 8.61 1.93 10.54 12.50% +1.81%
Total Office Manhattan 28.50 6.93 35.43 9.40% +0.16%
           
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 24.08 7.37 31.45 10.49% -1.13%
Midtown South Manhattan Office 8.06 1.21 9.27 9.79% -0.95%
Downtown Manhattan Office 12.58 3.73 16.31 15.10% +0.82%
Total Office Manhattan 44.72 12.31 57.03 11.35% -0.54%
           

Manhattan Office Market Vacancies

New York Office Vacant Space
  • Total Manhattan Office Market Vacancies increased slightly as Total Direct availability increased from 28.32 million RSF to 28.50 million RSF even though Total Sublease Lease availability decreased from 7.05 million RSF to 6.93 million RSF.

Manhattan Office Market Leases

Manhattan Office Rent Vacancy
  • Total Manhattan Office Direct Lease availability increased slightly from 28.32 million RSF to 28.50 million RSF, while Total Sublease vacancies decreased from 7.05 million RSF to 6.93 million RSF.

Manhattan Office Rent Vacancy by Area

Manhattan Office Rent by Area
  • Total Manhattan Office Market vacancy increased slightly as Midtown South availability stayed more or less steady at 5.71 million RSF and Midtown availability decreased from 19.31 million to 19.18 million RSF. However, Total Downtown Vacancy rates increased from 10.35 million RSF to 10.54 million RSF.


Manhattan Midtown Vacant Space

Midtown Manhattan Office Rent
  • Total Vacant Office space in Midtown decreased due to the decrease in Total Sublease space availability from 4.35 million RSF to 4.26 million RSF, in addition to Total Direct availability decreasing from 14.96 million RSF to 14.92 million RSF.


New York Midtown South Vacancy

Midtown South Manhattan Office Rent
  • Midtown South Office Direct Lease availability increased slightly from 4.95 million RSF to 4.97 million RSF, while Sublease vacancies decreased slightly from 0.76 million RSF to 0.75 million RSF.


Manhattan Downtown Office Space

Downtown Manhattan Office Rent

  • Total Downtown Manhattan office vacancies increased due to an increase in Direct space from 8.41 million RSF to 8.61 million RSF, even though Sublease availability decreased from 1.94 million RSF to 1.93 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 0.12 0.00 0.12 4.20% -0.86%
Midtown South Manhattan Retail 0.15 0.01 0.16 4.60 % +1.27 %
Downtown Manhattan Retail 0.05 0.00 0.05 3.20% +33.79%
Total Retail 0.32 0.01 0.33 4.20% +5.65%
           
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 0.22 0.04 0.27 4.14% -0.38%
Midtown South Manhattan Retail 0.23 0.01 0.24 4.59% +0.83%
Downtown Manhattan Retail 0.06 0.00 0.06 8.14% +28.67%
Total Retail 0.51 0.05 0.56 4.22% +3.06%
           

New York Retail Market Spaces

Manhattan Retail Rent Vacancy

  • Total Manhattan Retail availability rose from 0.31 million RSF to 0.33 million RSF, led by an increase in Downtown availability from 0.03 to 0.05 million RSF while in Midtown and Midtown South availability remained constant at 0.12 and 0.16 million RSF respectively.


 Manhattan Market News

 Market Overview


  MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet)
   Direct  Sublease  Total  % Vacant  % Monthly
Change
Midtown Manhattan Industrial 0.39 0.00 0.39 10.40% -7.20%
Midtown South Manhattan Industrial 0.33 0.00 0.33 4.30% -16.77%
Downtown Manhattan Industrial 0.03 0.00 0.03 4.50% 0.0%
Total Industrial 0.75 0.00 0.75 6.80% -11.09%
           
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 0.55 0.00 0.55 9.32% -5.12%
Midtown South Manhattan Industrial 0.35 0.00 0.35 4.56% -15.82%
Downtown Manhattan Industrial 0.03 0.00 0.03 4.48% 0.0%
Total Industrial 0.93 0.00 0.93 6.50% -9.01%
           


New York Industrial Market Spaces

Manhattan Industrial Rent Vacancy

  • Total Manhattan Industrial Vacant space decreased from 0.83 to 0.75 million RSF. Midtown vacancy decreases from 0.42 to 0.39 million RSF and Midtown South vacancy decreases from 0.38 to 0.33 million RSF were responsible for this drop. Downtown vacancy rates continue to remain unchanged at 0.03 million RSF.