The exact size of the Midtown area is disputed. Most agree that the core commercial area extends from 40th Street up to the southern edge of Central Park on 59th Street and from Third Avenue in the east to Ninth Avenue in the west, but some take a broader view and classify Midtown as the whole area of Manhattan between 23rd and 59th Streets and between the Hudson and East Rivers.
Whatever its boundaries, Midtown Manhattan is undisputably the busiest single commercial district in the United States. The great majority of the city's skyscrapers, including most of its hotels and many apartment towers, lie within Midtown. More than 3 million commuters work in its offices, hotels, and retail establishments; the area also hosts many tourists, visiting residents, and students. Some areas, especially Times Square and Fifth Avenue, have massive clusters of retail establishments.
The Midtown Manhattan skyline viewed from across the Hudson River
Midtown is sometimes broken into "Midtown East" and "Midtown West" or into more traditional neighborhood distinctions like Turtle Bay, Murray Hill-Kips Bay, Hell's Kitchen-Clinton, and others.
Whatever its boundaries, MidtownManhattan is undisputably the busiest single commercial district in the United States.
Manhattan's overall vacancy rate registered 10.1% at the end of the third quarter — its lowest level in 20 months, and a full percentage point lower than the same period a year ago.
Manhattan's apartment vacancy rate was a mere 2% at the end of September 2004 — incredibly low when compared with the current national apartment vacancy rate of 10.5%.
Manhattan's retail sector continues to thrive, thanks to strong consumer spending and an influx of luxury retailers determined to lease space in the market.
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