Office Space on Broadway in the Financial District
Office Space on Broadway in the Financial District
In 2016, office Space on Broadway in the Financial District is available at asking rents that range from $37.00 per rentable square foot up to $65.00. The differential in rents is attributable to a number of factors including: (1) building quality; (2) modernity; (3) centrality and proximity to transportation (4) distinguishing attributes such as landmark status; and (5) the properties’ vacancy rate.
The newly opened World Trade Center Transportation Complex
Based on statistics provided by Costar, the Commercial Real Estate Information Company, at the end of 2015 the average quoted asking rent in the Entire Downtown Market was $50.45 PSF and the vacancy rate was 9.1%. This represents a substantial improvement for Building Owners over 2014 when the average rent was $47.97 and the vacancy stood at 10.4% The popularity of Downtown office space is examined in our report on Leasing Offices in Downtown New York City in 2016. LINK HERE.
Leasing Incentives for Office Space on Broadway
Downtown Office Rent Rebate: The Lower Manhattan Commercial Revitalization Program has been extended until March 31, 2018. Participation in this municipal incentive will result in your company receiving $10.00 PSF in rent credits during a five- (5) year lease. LINK HERE for information.
Sample Office Space on Broadway
A small selection of offices for rent on Broadway is listed below. Contact Cogent Realty with your special requirement. Important Note: The Asking Rents listed are effective March 2016 and subject to change.
165 Broadway a/k/a One Liberty Plaza: Class A (Built 1972, renovated 2007).
Commercial Revitalization Program Eligible.
4,685 RSF.
Landlord will build-to-suit.
Call for rent.
150 Broadway, a/k/a Westinghouse Buildling: Class B (Built 1924, renovated 1986).
Commercial Revitalization Program Eligible.
3,619 RSF.
Landlord will build-to-suit.
Asking $52.00 PSF.
12,500 RSF.
Landlord build-to-suit.
Asking $52.00 PSF.
2 Wall Street, a/k/a 90- 94 Broadway: Class A (Built 1932, renovated 1986).
Commercial Revitalization Program Eligible.
3,173 RSF. Proposed layout.
Landlord will build-to-suit.
Asking $50.00 PSF.
10,086 RSF. Proposed layout.
Landlord will build-to-suit.
Asking $50.00 PSF.
61 Broadway: Class A (Built 1916, renovated 1988).
Commercial Revitalization Program Eligible.
4,139 RSF.
Pre-built office.
Call for rent.
45 Broadway, a/k/a Broadway Atrium: (Class A, Built 1983).
9,756 RSF.
Pre-bult office.
Asking $38.00 PSF.
42 Broadway: Class B (Built 1904, renovated).
Commercial Revitalization Program Eligible.
19,000 RSF.
Pre-built office.
Asking $42.00 PSF.
32 Broadway: Class B (Built 1900, renovated 2005).
Commercial Revitalization Program Eligible.
2,000 RSF.
Pre-built office.
Asking $41.00 PSF.
25 Broadway a/k/a Cunard Lines Building: Class A (built 1921, renovated 2010).
Commercial Revitalization Program Eligible.
16,358 RSF. Proposed layout.
Landlord will build-to-suit.
Asking $49.00 PSF.
BEST STRATEGY FOR LEASING OFFICE SPACE ON BROADWAY
You will save valuable time, energy and money by using Cogent Realty to negotiate your New York City office lease. Cogent Realty is an independent and licensed NO FEE Tenant Representation Broker with over 15 years of experience representing NYC businesses. Cogent maintains an extensive Building and Landlord database as well as current “closed deal” contract information. We will find you the right space at the right price. Phone: (212) 509-4049.
