Optimal Spaces Inc. (lease office manhattan)
 
 
   


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

March 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 9.17 1.58 10.75 6.40% +2.08%
New York City Midtown South Office A 0.46 0.12 0.58 5.87% +1.71%
New York City Downtown Office A 4.49 1.37 5.86 9.80% +2.17%
Total New York City Office A 14.13 3.07 17.20 7.20% +2.10%
 
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 15.07 4.47 19.54 9.28% +1.99%
New York City Midtown South Office A 0.67 0.19 0.86 6.62% +4.52%
New York City Downtown Office A 7.04 1.94 8.99 12.73% -3.83%
Total New York City Office A 22.78 6.61 29.39 9.99% +0.29%
 
 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 13.13 2.08 15.22 6.20% +1.77%
New York City Midtown South Office 3.56 0.51 4.07 5.30% -5.58%
New York City Downtown Office 7.48 1.72 9.20 10.50% +2.64%
Total New York City Office 24.17 4.31 28.48 6.90% +1.00%
 
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 20.88 5.63 26.52 8.73% +1.22%
New York City Midtown South Office 6.61 0.90 7.51 7.83% -1.72%
New York City Downtown Office 10.51 2.80 13.30 12.50% -1.26%
Total New York City Office 37.99 9.33 47.32 9.35% +0.06%
 

New York City Class A Office Rent

Manhattan Class A Office Rent
  • Total New York City Office Class A vacancies increased from 16.83 million RSF to 17.20 million RSF.
  • Total New York City Market vacancy increased from 28.20 million RSF to 28.48 million RSF.


New York City Office Rent Vacancy

Manhattan Office Rent Vacancy

  • Total New York City Office direct lease vacancy increased from 23.88 million RSF to 24.17 million RSF.
  • Total sublease vacancy held constant at 4.31 million RSF.


New York City Office Rent Vacancy by Area

Manhattan Office Rent Vacancy by Area
  • Total New York City Office Market vacancies increased for the second consecutive month.
  • Midtown South Office vacancy dropped from 4.29 to 4.07 million RSF.
  • Midtown Office vacancy rose from 14.95 million to 15.22 million RSF.
  • Total New York City Downtown Office vacancy rates also increased from 8.96 million RSF to 9.20 million RSF.


New York City Midtown Office Rent

Midtown Manhattan Office Rent

  • Total vacant Office Space in New York City Midtown increased led by a increase in total direct lease space from 12.79 to 13.13 million RSF.
  • Total vacant sublease space decreased from 2.16 to 2.08 million RSF.

Midtown South New York City Office Rent

Midtown South Manhattan Office Rent

  • Midtown South Office direct lease vacancy decreased from 3.86 million RSF to 3.56 million RSF.
  • Midtown South sublease vacancies rose from 0.44 to 0.51 million RSF.

New York City Downtown Office Rent

Downtown Manhattan Office Rent

  • Total New York City Downtown Office vacancies increased with direct lease space increasing from 7.24 million RSF to 7.48 million RSF.
  • Total New York City Downtown Office sublease vacancy holding steady at 1.72 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 0.12 0.01 0.13 2.00% +1.55%
New York City Midtown South Retail 0.25 0.01 0.26 4.50% +5.75%
New York City Downtown Retail 0.12 0.00 0.12 3.00% +11.86%
Total Retail 0.49 0.01 0.51 3.10% +6.10%
 
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 0.26 0.01 0.27 3.26% +0.75%
New York City Midtown South Retail 0.43 0.01 0.44 6.63% -5.94%
New York City Downtown Retail 0.15 0.00 0.15 3.64% +5.19%
Total Retail 0.84 0.02 0.86 4.51% -1.86%
 

New York City Retail Rent Vacancy

Manhattan Retail Rent Vacancy
  • Total available New York City Retail Space rose from 0.48 to 0.51 million RSF.
  • Midtown South Retail space vacancies rose slightly from 0.25 to 0.26 million RSF.
  • Midtown vacancy remained set at 0.13 million RSF.
  • In Downtown, vacancy remained rose from 0.10 to 0.12 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 0.15 0.00 0.15 2.80% -3.29%
New York City Midtown South Industrial 0.14 0.00 0.14 2.20% 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 2.30% -1.70%
 
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 3.25% -1.60%
New York City Midtown South Industrial 0.22 0.00 0.22 3.15% 0.00%
New York City Downtown Industrial 0.02 0.00 0.02 2.83% 0.00%
Total Industrial 0.43 0.00 0.43 3.18% -0.71%


New York City Industrial Rent Vacancy

Manhattan Industrial Rent Vacancy
  • Total vacant New York City Industrial Space decreased from 0.30 to 0.29 million RSF.
  • Midtown vacancy decreased to 0.15 million RSF from 0.16 million RSF.
  • Midtown South vacancy held constant at 0.14 million RSF.