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Prebuilt Corporate Offices in the Plaza District
Prebuilt Corporate Offices in the Plaza District Prebuilt corporate offices can be categorized as: (1) Newly constructed and never occupied; and (2) Second generation and previously occupied. New construction offers users the most contemporary layouts, finishes and infrastructure (electrical service, plumbing, H.V.A.C. and telecom connectivity). Provided that it was built within the past seven years…
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Downtown NY Office Space
Downtown NY Office Space The availability of downtown NY office space is contracting according to Costar and rents are increasing. As of March 2014 the average asking rent in the Financial, Insurance and World Trade Districts across all building classes was $42.23 per rentable square foot versus $39.14 in 2013. Even though many long-time area business are…
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High Value Office Space near Penn Station
High Value Office Space near Penn Station In the blog NY Office Rental Rates Year-end 2013 I reported on the continued increase in rents citywide. Not withstanding, a handful of portfolios, almost all of which are family owned, still offer below market rent. These Landlords are able to do so because they have owned the…
Read MoreCorporate Headquarters in the Plaza District
Corporate Headquarters in the Plaza District The Plaza District has NYC’s highest concentration of financial, legal and public companies. They come for the Class A buildings, elegant restaurants, luxury stores and services. This blog reports on three impressive corporate headquarters for lease in the Plaza District. The Tenant Representation firm of Cogent Realty maintains comprehensive listings for office space…
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Commercial Lofts in NYC
Commercial Lofts in NYC Commercial lofts are in strong demand as a result of the expansion of the media and tech industries. In fact, Midtown South with its high concentration of commercial lofts, had a vacancy rate of 6.9% and average rents of $54.33 PSF at the end of 2013. Big drivers of the commercial loft market…
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Hedge Fund Sublease in the Plaza District
Hedge Fund Sublease in the Plaza District This hedge fund sublease has everything going for it! (1) A gorgeous location in a Class A building at 57th Street and Fifth Avenue; (2) Elegant space with an intelligent design; (3) AAA quality Sub-landlord; (4) Well below market rent; and (5) A generous lease term length…
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Madison Avenue Office with Below Market Rent
Madison Avenue Offices with Below Market Rent Identifying office space with a below market rent on Madison Avenue is challenging. Madison Avenue used to be synonymous with the advertising industry which clustered there. Currently, most of the ad agencies have relocated and the majority of Tenants north of 42nd Street are well heeled financial service firms, with…
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Office Rental Rates in NY- Year End 2013
Office Rental Rates in NY- Year End 2013 Its a big city! At the close of 2013 total office inventory in New York City amounted to 552,186,191 square feet in 3,884 buildings. But how were these spaces priced? According to Costar Group, Inc., city-wide rental rates continue to trend upward and averaged $52.35 PSF, an increase…
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Office Sublease in the Plaza District
Office Sublease in the Plaza District At the present time there is a nice selection of mid-size office subleases in the Plaza District. Many of these spaces have been vacated by companies that have merged, been acquired or expanded to larger spaces. These scenarios bode well for a sublessee because they predict the financial stability of the…
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