New object from selected?

Is there any way to create a new object from the selected areas of the mesh of the current object?

e.g. some object x has areas y and z. I realize I want area y to be an entirely separate object from object x, so I select all and only area y and then __________ (fill in the blank).

can you clarify what you want
i mean how many objects do you have

do you copy part of an object and thens eperate it from the selected object ?

and if you can show a pciture demonstrating what you want ot do


Currently, I have a single object.

I wish to make a selected part of this single object into a new object (and hence a separate object from the current object).

Edit: never mind, I just chanced upon my answer (