Discounted Offices Downtown for Rent

By Mitch Waldman

Rent Discounted Offices Downtown

Discounted Offices Downtown

  • Discounted offices downtown can now be rented in many buildings.
  • The Downtown office rental market has been hard hit by hybrid and remote work.
  • The economic impact of these shifts have left landlords struggling to fill vacancies.
  • Building owners are reducing rent and boosting free rent to attract new Tenants.
  • This is an historic opportunity to lease improved office space at a bargain price.

Contact Cogent Realty Advisors (212) 509-4049

 

 

 

 

Downtown Office Market by the Numbers

CoStarNew York Office is the world leader in commercial real estate information and has the most comprehensive database of real estate data throughout the US, Canada, UK, France, Germany, and Spain. Costar Group Inc. brands include Loopnet, Emporis, Ten-X, Apartments.com,  Homes.com and BizBuySell.

 

Key Costar Downtown Office Market Indicators

Discounted Offices Downtown#2 City Hall District: Asking rent $47.85¹ PSF, vacancy 16.5%².

#4 Financial District: Asking rent $56.09¹ PSF, vacancy 24%².

#10 Insurance District: Asking rent $47.46¹ PSF, vacancy 27.3%².

#20 World Trade Center District: Asking rent $50.71¹ PSF, 14%².

Note: ¹Average asking rent across all office building classes. ²Vacancy includes direct and sublease offices.

 

 

Discounted Offices DowntownCostar reports: “Limited deal activity and record-high availability have created a leasing environment where tenants hold all the leverage. Market participants note that rents have become highly negotiable as discounts to the asking rent are easily applied and concessions, particularly free rent, are now higher compared to years past.”

Contact Cogent Realty Advisors (212) 509-4049

 

Downtown Offices in the News

Canyon of zeroes: Lower Manhattan office rental market ‘suffering like no other’

 

 

 

 

 

 

Finding the Perfect Office Space is a Big Decision

New York Office

♦ Cogent Realty Advisors is a licensed New York State commercial realtor founded in 2002.

♦ Cogent Realty represents the interests of  commercial Tenants that rent office space.

♦ Tenants pay no fee for using our service.

♦ Cogent provides objective expertise in finding office space and negotiating lease agreements.

♦ Cogent will secure the optimal office space for you with the best terms and pricing.

For help with your office real estate, contact: Mitchell Waldman: (212) 509-4049

#DiscountedOfficesDowntown

 

 

Posted in Downtown