Leasing Small Office Space NYC

Leasing Small Office Space NYC is a guide written for small businesses and entrepreneurs looking for a workspace. Our topics include:

• Types of office space

• Space requirements and location

• Office Lease Cost

• Small office spaces for Lease

Cogent Realty Advisors is a licensed NO FEE real estate broker that represents companies that lease office space.

Call us for help finding and negotiating your next lease: (212) 509-4049.

Types of Office Space

Photo by Freepik

Coworking (also called an Executive or Furnished Office), is an “instant office” that has a flexible lease term, and a simple contract with a minimal security deposit. Rents are from $1,100 per month and up depending on the location, size of the office, view and overall quality. Your “all included” monthly rent covers:

1. Fully furnished office, team room or desk that is ready for immediate occupancy.

2. Internet connection (hardwire and/or WIFI) that is ready for a VOIP phone.

3. Access to a cafe, lounge, meeting and conference room.

4. The services of a receptionist that will greet your visitors and receive mail.

5. Legal mailing address.

6. Nightly cleaning.

Link for more information here: New York City Coworking Guide

Traditional Offices currently rent from $28.00- $185.00 Per Square Foot (PSF) depending on the location, building quality and amenities. To calculate your monthly rent, use this formula:

Per Square Foot Rent X Total Office Square Feet = Annual Rent

Annual Rent ÷ 12 = Monthly Rent*

*Additional costs include utilities, and in some buildings, “loft/common charges”.

A typical lease term is 3- 10 years with a detailed contract and a Security Deposit of 3 months or more.
The office is delivered vacant. It is the Tenant’s responsibility to purchase furniture, business machines, install internet, phones and insure the premises.
Most offices are pre-built and ready for occupancy. Build-to-suit options are available on longer leases.

Space Requirements and Location

Coworking facilities have private offices with capacities of 1 to 3 people and team rooms for up to 40 or even more. One of the benefits of coworking is that it is scalable: as your business grows additional offices can be rented.

420 Lexington Avenue
Pre-built 2,126 RSF. Asking $65. Furniture plan & headcount is shown.

You can determine what size traditional office you need by reviewing a floor plan that includes a furniture layout and headcount. For a preliminary idea about office size use our free Office Space Calculator. We recommend inspecting several office spaces to find out what is right for you.

Location: Hybrid work is the new normal, and incentivizing employees to return to the office is management’s new challenge. Offices that are conveniently located near transportation and parking reduce resistance to in-person work. Buildings with Tenant Amenities are also a big plus.

Office Lease Cost

Mid-Year 2024 Review of the NYC Office Market Designed by Freepik

Cogent Realty’s Mid-Year 2024 Review of the NYC Office Market includes information on rental rates in every neighborhood. It will help you make informed leasing decisions, optimize your budget, and navigate the market.

Costar is the most reliable source for commercial real estate information in the US. As of July 2024, Costar reported this New York City data:

• Asking Rent (average): $51.47 Per Square Foot

• Vacancy Rate: 18.9%

Small office spaces for Lease

New York City’s enormous market has 447 million square feet of office space contained within 1,586 buildings. Shown below is a curated listing of small offices now offered for rent. Call Cogent Realty with your specific requirement: (212) 509-4049.