Optimal Spaces Inc. (lease office manhattan)
 
 
   


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

June 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 8.18 1.64 9.82 5.90% -4.72%
New York City Midtown South Office A 0.46 0.13 0.59 5.60% -1.71%
New York City Downtown Office A 5.77 1.26 7.02 11.30% +23.67%
Total Office A 14.40 3.02 17.43 7.20% +6.82%
 
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 15.43 5.01 20.44 9.53% -0.65%
New York City Midtown South Office A 0.65 0.20 0.85 6.49% -1.52%
New York City Downtown Office A 6.46 1.72 8.18 11.66% -1.17%
Total New York City Office A 22.54 6.93 29.48 9.90% -0.98%
 
 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 11.85 2.08 13.93 5.70% -3.93%
New York City Midtown South Office 3.73 0.71 4.43 5.70% +2.75%
New York City Downtown Office 8.55 1.65 10.20 11.20% +15.37%
Total New York City Office 24.12 4.44 28.56 6.90% +4.00%
 
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 21.31 6.19 27.50 8.89% +0.69%
New York City Midtown South Office 6.97 1.13 8.10 8.37% +3.83%
New York City Downtown Office 9.90 2.56 12.46 11.70% -0.62%
Total New York City Office 38.18 9.88 48.07 9.38% +0.88%
 

New York City Class A Office Rent

New York City Class A Office Rent
  • Total Manhattan Office Class A vacancies increased from 16.24 million RSF to 17.43 million RSF, while total market vacancy increased from 27.42 million RSF to 28.56 million RSF.


New York City Office Rent Vacancy

New York City Office Rent
  • Total Manhattan Office direct lease vacancy increased from 22.90 million RSF to 24.12 million RSF, while total sublease vacancy decreased from 4.52 to 4.44 million RSF.


New York City Office Rent Vacancy by Area

New York City Office Rent Vacancy by Area
  • Total Manhattan Office Market vacancies increased as Midtown South Office vacancy rose from 4.31 to 4.43 million RSF. MidtownOffice vacancy dropped from 14.48 million to 13.93 million RSF and total Manhattan Downtown Office vacancy rates increased sharply from 8.63 million RSF to 10.20 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 12.19 to 11.85 million RSF. Total vacant sublease space dropped from 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 3.67 million RSF to 3.73 million RSF, while sublease vacancies rose from 0.64 to 0.71 million RSF.

New York City Downtown Office Rent

Rent New York City Office Downtown
  • Total Downtown Manhattan Office vacancies increased with direct lease space increasing dramatically from 7.04 million RSF to 8.55 million RSF and sublease vacancy increasing from 1.59 to 1.65 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 0.15 0.01 0.16 2.10% -4.15%
New York City Midtown South Retail 0.32 0.03 0.35 7.20% +20.06%
New York City Downtown Retail 0.12 0.00 0.13 6.40% -31.50%
Total Retail 0.59 0.05 0.63 4.20% +3.72%
 
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 0.36 0.01 0.37 3.94% +9.63%
New York City Midtown South Retail 0.48 0.05 0.53 9.32% +27.57%
New York City Downtown Retail 0.16 0.01 0.16 7.63% -22.70%
Total Retail 1.00 0.06 1.06 6.26% +13.55%
 

New York City Retail Rent Vacancy

Rent New York City Retail

  • Total available Manhattan Retail Space rose from 0.61 to 0.63 million RSF. Midtown South Retail space vacancies rose from 0.27 to 0.32 million RSF while in Midtown vacancy held constant at 0.16 million RSF. In Downtown, vacancy dropped from 0.17 to 0.13 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 0.16 0.00 0.16 2.90% +1.85%
New York City Midtown South Industrial 0.13 0.00 0.13 1.90% 0.00%
New York City Downtown Industrial 0.00 0.00 0.00 0.00% 0.00%
Total Industrial 0.29 0.00 0.29 2.20% +1.03%
 
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 0.19 0.00 0.19 3.24% 0.00%
New York City Midtown South Industrial 0.23 0.00 0.23 3.20% +1.78%
New York City Downtown Industrial 0.02 0.00 0.02 2.83% 0.00%
Total Industrial 0.43 0.00 0.43 3.20% +0.93%
 


New York City Industrial Rent Vacancy

Rent New York City Industrial Space

  • Total vacant Manhattan Industrial Space remained at 0.29 million RSF. Midtown and Midtown South Vacancy rates remained set at 0.16 and 0.13 million RSF respectively.