Law Offices for Rent, Downtown NY
Law Offices for Rent, Downtown NY
Law Offices for Rent, Downtown NY is written for legal services firms that need timely advice on the local office market. As the Covid19 pandemic wanes, the NYC courts are re-opening for in person appearances. Many law firms that have been working remotely are returning to the office with an understanding that they can operate using a hybrid work model and thus occupy smaller-sized offices. With a smaller “foot print” rent overhead can be reduced.
Historically, high occupancy costs have a deleterious effect on law office profitability and the single most effective strategy for addressing this is by increasing office space efficiency. Space efficiency or “space optimization” can be gained through the following:
(1) Reducing the size of offices: Even the dimensions of a Partner’s office can be reduced and still convey seniority by its location within the workspace. Typical Partner office sizes now range from 168 to 225 square feet. Associate offices can be as small as 96 square feet and remain functional.
(2) Alter the construction: The installation of a full or partial glass wall at the front of a windowed office allows light to penetrate to the core of a space where interior offices can be built. For privacy the glass can be frosted.
(3) Modify common areas: Embrace open seating when possible. Collaboration zones with comfortable seating, a worktable and screen enhance productivity and appeal to younger staff. Law libraries are relics.
(4) Right-size conference rooms: A conference room with a capacity of between 8 and 12 persons is sufficient for most firms. Larger meetings can be held offsite at a conferencing center.
(5) Better utilize support persons: It used to be that there was a 1:1 or 1:2 ratio of assistants to attorneys. With the efficiency gained through technology, the ratio can be as high as 1:6.
(6) Employ technology for mobility and efficiency: Attorneys need to work from anywhere and be connected at all times. Archive file rooms can be off premises in an economical storage facility or saved as a digital file.
Pre-built Law Offices for Rent, Downtown NY
The rental information in this report was found in Costar, the leading provider of commercial real estate data.
For information about how a building’s quality is determined, link to Costar’s Building Rating System.
1,650 RSF. Asking $5,500 per month.
11 Broadway: 3- Star Office. Located between Battery Place and Morris Street. 490,709 square feet. 24/7 attended lobby. Cleaning included.
2,000 RSF. Asking $6,500 per month.
32 Broadway: 3- Star Office. Located between Beaver Street and Exchange Place. 143,000 square feet. 24/7 attended lobby. Cleaning included.
2,063 RSF. Call for asking rent.
2 Wall Street at the northeast corner of Broadway: 3- Star Office. Located at the north east corner of Liberty Street. 215,00 square feet. 24/7 attended lobby. Cleaning included.
1,471 RSF. Asking $6,742 per month.
150 Broadway: 3- Star Office. Located at the northeast corner of Liberty Street. 279,669 square feet. 24/7 attended lobby. Cleaning included.
Suite 512: 1,652 RSF. Asking $7,434 per month.
Suite 511: 1,989 RSF. Asking $8,950 per month.
217 Broadway: 4- Star Office. Located at the northwest corner of Vesey Street. 158,948 square feet. 24/7 attended lobby. Cleaning included.
2,915 RSF. Asking $8,745 per month.
225 Broadway: 3- Star Office. Located at the southwest corner of Barclay Street. 520,951 square feet. 24/7 attended lobby. Cleaning included.
1,402 RSF. Asking $6,425 per month.
233 Broadway: 4- Star Office. Located between Barclay Street and Park Place. 805,975 square feet. 24/7 attended lobby. Cleaning included.
1,851 RSF. Asking $8,483 per month.
11 Park Place: 3- Star Office. Located between Broadway and Church Street. 205,000 square feet. 24/7 attended lobby. Cleaning included.
Law Offices for Rent Throughout NY
Cogent Realty Advisors has a database with 100s of law firm spaces currently for lease in Manhattan. These include pre-built offices ready for immediate move-in, build-to-suit spaces that can be custom designed, and short-term furnished subleases.
About Cogent Realty Advisors, Inc.
Cogent Realty Advisors is an independent and licensed no fee Realtor with 20 years of experience representing businesses that lease NYC office space. We offer leasing solutions for office Tenants seeking stability and value in uncertain times. For information phone Mitchell Waldman at (212) 509-4049.
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