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Mailing Address |
| 57 West 38th Street, 10th Floor |
| New York, NY 10018 |
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Telephone |
| 212-258-2700 |
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Fax |
| 212-409-8846 |
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September 2005 Graphs and Statistics |
| MANHATTAN CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet)) |
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Direct |
Sublease |
Total |
% Vacant |
% Monthly
Change |
| Midtown Manhattan Office A |
9.79 |
3.02 |
12.80 |
7.40% |
-0.73% |
| Midtown South Manhattan Office A |
0.77 |
0.06 |
0.83 |
8.10% |
-9.15% |
| Downtown Manhattan Office A |
4.96 |
1.53 |
6.49 |
11.20% |
+3.76% |
| Total Manhattan Office A |
15.52 |
4.61 |
20.13 |
8.30% |
+0.37% |
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MANHATTAN CLASS A OFFICE VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
% Vacant |
% Monthly
Change |
| Midtown Manhattan Office A |
15.88 |
7.14 |
23.01 |
10.94% |
+0.54% |
| Midtown South Manhattan Office A |
1.07 |
0.09 |
1.16 |
9.19% |
-6.54% |
| Downtown Manhattan Office A |
7.72 |
2.45 |
10.17 |
14.28% |
+1.51% |
| Total Manhattan Office A |
24.67 |
9.67 |
34.34 |
11.67% |
+0.59% |
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Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 20.05 million RSF to 20.13 million RSF, and Total Market vacancies decreased slightly from 32.95 million RSF to 32.93 million RSF.
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| MANHATTAN TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
% Vacant |
% Monthly
Change |
| Midtown Manhattan Office |
14.35 |
3.68 |
18.04 |
7.10% |
-0.81% |
| Midtown South Manhattan Office |
4.40 |
0.39 |
4.79 |
6.00% |
-1.77% |
| Downtown Manhattan Office |
8.23 |
1.87 |
10.10 |
11.70% |
+2.01% |
| Total Office
Manhattan |
26.98 |
5.94 |
32.93 |
7.90% |
-0.09% |
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MANHATTAN TOTAL OFFICE MARKET VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
%
Vacant |
% Monthly
Change |
| Midtown Manhattan Office |
21.79 |
8.30 |
30.09 |
10.02% |
-0.21% |
| Midtown South Manhattan Office |
6.89 |
0.75 |
7.64 |
8.21% |
-2.03% |
| Downtown Manhattan Office |
11.53 |
3.16 |
14.69 |
13.84% |
-1.14% |
| Total Office
Manhattan |
40.20 |
12.21 |
52.41 |
10.50% |
-0.74% |
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Manhattan Office Vacancy Market
- Total Manhattan Office Market Vacancies decreased as Total Direct availability decreased from 27.18 million RSF to 26.98 million RSF while Total Sublease Lease availability increased from 5.77 million RSF to 5.94 million RSF.
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Manhattan Office Lease Market
- Total Manhattan Office Direct Lease availability decreased from 27.18 million RSF to 26.98 million RSF, while Total Sublease vacancies increased from 5.77 million RSF to 5.94 million RSF.
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Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy decreased as Midtown South availability dropped from 4.88 to 4.79 million RSF and Midtown availability decreased from 18.18 million to 18.04 million RSF. However, Total Downtown Vacancy rates increased from 9.90 million RSF to 10.10 million RSF.
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Midtown Manhattan Office Rent
- Total Vacant Office space in Midtown decreased led by a decrease in Total Direct availability from 14.56 to 14.35 million RSF. Total Sublease space availability increased from 3.62 to 3.68 million RSF.
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Midtown South Manhattan Office Rent
- Midtown South Office Direct Lease availability decreased from 4.45 million RSF to 4.40 million RSF, while Sublease vacancies dropped from 0.43 to 0.39 million RSF.
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Downtown Manhattan Office Rent
- Total Downtown Manhattan office vacancies increased with Direct space rising from 8.17 million RSF to 8.23 million RSF, in addition to Sublease availability increasing from 1.72 million RSF to 1.87 million RSF.
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| MANHATTAN RETAIL VACANT SPACE (In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
% Vacant |
% Monthly
Change |
| Midtown Manhattan Retail |
0.11 |
0.00 |
0.11 |
4.20% |
-10.62% |
| Midtown South Manhattan Retail |
0.21 |
0.01 |
0.22 |
4.10% |
+0.91% |
| Downtown Manhattan Retail |
0.08 |
0.00 |
0.08 |
4.90% |
-2.62% |
| Total Retail |
0.41 |
0.01 |
0.42 |
4.20% |
-2.93% |
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MANHATTAN RETAIL VACANT SPACES NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
%
Vacant |
% Monthly
Change |
| Midtown Manhattan Retail |
0.24 |
0.00 |
0.24 |
3.60% |
+15.16% |
| Midtown South Manhattan Retail |
0.34 |
0.01 |
0.35 |
5.85% |
+3.19% |
| Downtown Manhattan Retail |
0.13 |
0.00 |
0.13 |
6.60% |
-6.18% |
| Total Retail |
0.71 |
0.01 |
0.72 |
4.90% |
+5.57% |
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Manhattan Retail Rent Vacancy
- Total Manhattan Retail availability decreased slightly from 0.43 million RSF to 0.42 million RSF. Midtown South availability stayed flat at 0.22 million RSF while in Midtown availability decreased from 0.13 to 0.11 million RSF. In Downtown, availability dropped from 0.09 million RSF to 0.08.
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| MANHATTAN INDUSTRIAL VACANT SPACE (In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
% Vacant |
% Monthly
Change |
| Midtown Manhattan Industrial |
0.30 |
0.00 |
0.30 |
5.40% |
0.00% |
| Midtown South Manhattan Industrial |
0.21 |
0.03 |
0.24 |
3.20% |
-5.46% |
| Downtown Manhattan Industrial |
0.00 |
0.00 |
0.00 |
0.00% |
0.00% |
| Total Industrial |
0.51 |
0.03 |
0.54 |
3.90% |
-2.42% |
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MANHATTAN INDUSTRIAL VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet) |
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Direct |
Sublease |
Total |
%
Vacant |
% Monthly
Change |
| Midtown Manhattan Industrial |
0.33 |
0.00 |
0.33 |
5.76% |
0.00% |
| Midtown South Manhattan Industrial |
0.28 |
0.03 |
0.31 |
4.02% |
-3.87% |
| Downtown Manhattan Industrial |
0.02 |
0.00 |
0.02 |
2.55% |
0.00% |
| Total Industrial |
0.62 |
0.03 |
0.66 |
4.65% |
-1.85% |
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Manhattan Industrial Rent Vacancy
- Total Manhattan Industrial Vacant space decreased from 0.53 to 0.51 million RSF. Midtown vacancy remained constant at 30 million RSF. Midtown South vacancy dropped from 0.22 to 0.21 million RSF. Available Manhattan Downtown Industrial space remains at zero.
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