Office Rental Rates near Grand Central, Q3 2014
Office Rental Rates
near Grand Central
Office Rental Rates near Grand Central in Q3 2014 increased modestly over the prior quarter. In Q3 the average quoted rent (across all building classes) was $61.07 PSF, up 1.22% over $60.33 in Q2. The district recorded a 10.6% vacancy rate spread over 181 buildings with 56,005,436 square feet of space. (Information provided by Costar.) Corporate demand for office space near Grand Central is always robust because of its transportation connections to the Upper East Side, Westchester and Connecticut as well as a vast array of restaurants, hotels and professional services.
Office Rental Rates near Grand Central, Q3 2014
Grand Central Sub-market
Class A $62.38
Class B $55.50
Class C $47.89
Top Office Leases Signed in Grand Central DURING Q3 2014
150 East 42nd Street, aka Hiro Plaza. Mount Sinai Hospital leased 448,819 RSF.
200 Park Avenue, aka Met Life Building. Paul, Hastings, Janofsky & Walker LLP leased 180,523 RSF.
Sample Office Spaces near Grand Central
The Grand Central office market has an broad variety of size, quality and pricing to choose from. Contact us with your requirements.
Fifth Avenue & 43rd
Class A, Pre-built
8,449 RSF asks $72
Madison & 40th
Class A, 2nd Generation
3,565 RSF, asks $66
41st St Btwn Madison & Fifth
Class B, 2nd Generation
5,200 RSF, asks $44
Park & 40th St.
Class A, Build to Suit
5,142 RSF, Call for rent
Lexington & 41st
Class A, 2nd Generation
3,562 RSF, asks $59
Third Ave & 46th
Class A, Pre-built
7,442 RSF, asks $58
Second Ave & 43rd
Class B, Build to suit
8,500 RSF, asks $49
Strategy for leasing an Office near Grand Central
With over 15 years of experience providing NO FEE Tenant Representation, Cogent Realty Advisors will secure affordable office rental rates in NY for your business. Contact Mitchell Waldman today: (212) 509-4049.
