Office Rents in NYC’s Midtown and Downtown Markets
Office Rents in NYC’s Midtown and Downtown Markets
Office Rents in NYC’s Midtown and Downtown Markets have reached their peak following the recession of 2008. According to Costar, the Real Estate Information Company, at mid-year 2016 the average quoted asking rent in the Midtown market was $63.58 per square foot compared to Downtown’s $51.64. The Midtown market includes Grand Central, United Nations, Murray Hill, Penn Station/Fashion, Times Square, Columbus Circle and the Plaza districts. The Downtown market includes City Hall, Insurance, Financial, World Trade and Tribeca districts. The adjacent map and key will help you identify each of these areas. For rental and vacancy rates in each of the above districts link to our recent 2nd Quarter NYC Office Market report, here.
Sample Midtown Offices for Rent in 2016
A small selection of quality commercial buildings with available office space is found below. Contact us for current rental rates and Tenant Incentives. Phone (212) 509-4049.
GRAND CENTRAL
60 East 42nd Street
Class A
Pre-built 3,631 RSF
UNITED NATIONS
800 Second Avenue
Class A
Pre-built 1,800 RSF
MURRAY HILL
183.Madison Avenue
Class B
Pre-built 4,543 RSF
PENN STA./ FASHION
112 West 34th Street
Class A
Pre-built 4,758 RSF
TIMES SQUARE
120 West 45th Street
“Tower 45” Class A
Build to Suit 4,725 RSF
COLUMBUS CIRCLE
888 Seventh Avenue
Class A
Pre-built 6,840 RSF
PLAZA DISTRICT
437 Madison Avenue
Class A
Pre-built 3,189 RSF
selection of downTOWN OFFICES FOR RENT IN 2016
A small sample of quality commercial buildings with available office space is found below. Contact us for current rental rates and Tenant Incentives. Phone (212) 509-4049.
CITY HALL
233 Broadway
Class A Landmark
Build to Suit Any Size
Link here
INSURANCE DISTRICT
110 William Street
Class A
Build to Suit 5,752 RSF
Eligible for Municipal Rent Credits. Link here
FINANCIAL DISTRICT
14 Wall Street
Class A
Pre-built 4,979 RSF
WORLD TRADE
#1 World Trade Center
New Class A Tower
Build to Suit Offices
2,747 RSF- full floor
TRIBECA
55 Beach Street
Newly Renovated
Private floors
from 4,208 RSF
About Cogent Realty Advisors
Cogent Realty Advisors is an independent and licensed NO FEE Realtor with over 15 years of experience representing businesses that lease NYC office space. Our goal is to secure the right office for your business at the right price. For information, phone Mitchell Waldman at (212) 509-4049.
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