Small Office near Grand Central- Search Here
Looking for a Small office near Grand Central
Looking for a small office near Grand Central
If you are looking for a small office near Grand Central for the Fall of 2014 or 2015 start your search early. The Grand Central sub-market includes 182 buildings totaling 55,999,038 SF and had a vacancy rate of 11.5% at the end of July 2014 according to Costar. However, much of the empty space is large (5,000 RSF plus) and expensive. There is a limited supply of smaller offices that are reasonably priced. This is because small business has been the chief beneficiary of the improved economy and its demand for space is substantial.
Transit-Centric
The strong appeal of the Grand Central Station sub-market is driven by its transit-centric status. The terminal hosts Metro North Railroad and Amtrak, as well as the 4, 5, 6 and 7 subway. The “S” shuttle train expresses to Times Square and the Port Authority Bus Terminal where the 1, 2, 3, A, C and E subways travel uptown, to Penn Station and downtown. A great resource for information about neighborhood amenities and events is found at the Grand Central Partnership.
Economics of a Small Office near Grand Central
At the close of Q2 2014 the range in rents in full service buildings (which include base year operating expenses) was $43 to $90 PSF. Average PSF asking rents were: Class A @ $62.44; B @ $53.49; and C @ $41.98.
Selected Grand Central Small Offices for Lease
A sample of high quality offices under 3,000 RSF is listed below. Call Cogent Realty for current information about larger spaces.
110 East 42nd St.
(Class B, 1921)
1,561 RSF Pre-built Asking $55
60 East 42nd St.
(Class A,1930)
2,308 RSF Pre-built Asking $59
275 Madison @ 40th St. (Class A, 1931)
2,813 RSF Pre-built Asking $54
100 Park Ave. @ 41st St. (Class A, 1950/2007) 2,517 RSF NEW Pre-built Asking $80
370 Lexington Ave. @ 41st St.
(Class A, 1929)
1,967 RSF Pre-built Asking $62
420 Lexington Ave. @ 43rd St. (Class A. 1927/1999) 2,219 Pre-built Asking $58
Best Strategy for Leasing a small Grand Central area office
If your business plans on leasing a small office near Grand Central contact the experienced NO FEE Tenant Representative Broker, Cogent Realty Advisors. Cogent will secure the optimal lease terms for you by utilizing in depth market information, transaction expertise and negotiation skills. Phone (212) 509-4049.
