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Office Rental Rates in NY- 4th Quarter 2014
Office Rental Rates in NY- 4th Quarter 2014 Costar Group, the Commercial Real Estate Information Company reports that the NYC office vacancy decreased from 8.1% in Q3 to 7.8% in Q4 2014. The average quoted office rental rates in NY (all classes) was $55.91 PSF, an increase of .39% over $55.69 PSF in Q3. …
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Buying NY Office Space
Buying NY Office Space Buying NY Office Space will give your business the ability to control its occupancy costs in an office market that is recording sustained and significant year-over-year rent increases. The “stabilization” of occupancy costs in combination with long-term asset appreciation, the write-off of interest expense and depreciation, makes economic sense for many…
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Grand Central Commercial Buildings
Grand Central Commercial Buildings Grand Central commercial buildings provide quick access to Grand Central Terminal which contains the 4, 5, 6, 7 and S subway lines; M101, M102, M103, M1, M2, M3, M4, Q32 and M42 buses; Metro North Railroad, and the NYC Airporter. So for most businesses, the rationale for locating in this area is to provide…
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Penn Plaza Commercial Buildings
Penn Plaza Commercial Buildings Penn Plaza commercial buildings provide quick access to Penn Station which contains the 1, 2, 3, A, E, C subway lines, the Long Island Railroad, New Jersey Transit and Amtrak. So for most businesses, the primary rationale for locating at Penn Plaza is to provide convenient transportation connections to employees and clients. The station…
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Office Sublease in Downtown NY- Year’s End 2014
Downtown NY Office Sublease If you are looking for an Office Sublease in Downtown NY, as of December 2014 you will encounter a diminishing supply and increasing rents. Not withstanding, an office sublease remains a compelling work-space option because: (1) The rental rate is typically below that which will be offered directly be a Building…
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NYC Office Sublease, High Quality Midtown Locations
NYC Office Sublease- Overview NYC office sublease inventory is declining as 2014 comes to a close and so is the availability of directly leased space in midtown locations. As a result, the cost differential between subleases and direct leases has narrowed and rents for both continue to trend upward. Nevertheless, in most cases subleases can still…
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Renting an Office at One Grand Central Place
Renting an Office at One Grand Central Place Renting an office at One Grand Central Place provides a high quality work environment with direct access to Grand Central Terminal and all of its amenities. Located at 60 East 42nd Street, it was constructed in 1930 and contains 1,239,482 square feet of space on 53 floors. Recently the…
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Lower Manhattan Office Rental Rates in Q3 2014
Lower Manhattan Office Rental Rates in Q3 2014 Lower Manhattan Office Rental Rates in Q3 2014 increased modestly over the prior quarter. In Q3 the average quoted rent (across Class A, B & C buildings) was $46.11 PSF, up 1.58 % over $45.39 in Q2. The Lower Manhattan sub-market includes the Insurance and Financial Districts…
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Office Rental Rates near Penn Station in Q3 2014
Office Rental Rates near Penn Station in Q3 2014 increased minutely over the prior quarter. In Q3 the average quoted rent (across all building classes) was $48.79 PSF, up 1.05% over $48.28 in Q2. The district recorded a 7.9% vacancy rate spread over 447 buildings with 68,997,436 square feet of space. (Information provided by Costar.) Demand for…
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