Office Sublease Listings in Manhattan Q4 2020
Office Sublease Listings in Manhattan Q4 2020
Turn-key sublease offices are now plentiful in all sizes, designs, locations, pricing and duration.
Office Sublease Listings in Manhattan Q4 2020 is a curated report on high quality (Class A) short-term spaces available for immediate occupancy. Substantially lower priced subleases in Class B and C office buildings can be obtained by contacting Cogent Realty Advisors at (212) 509-4049.
Key Takeaways:
• The continuation of the Covid-19 pandemic is reshaping the NYC office market. As of this date less than 15% of the work force has returned to their office. Click the following link for a November 12, 2020 report from CRAIN’S New York Business.
• As a result, the volume of Subleases offered for rent is increasing dramatically as companies of all sizes from all industries look to dispose of unused office space and reduce liabilities.
• Subleases typically have a discounted rent and often include furniture and an IT network.
• The Asking Rent is a “starting point” for negotiation. The STRIKE PRICE (Sublease Contract Rent) will be significantly less.
• As a rule of thumb, shorter term Subleases are more heavily discounted.
Link for information about SUBLEASE RISKS AND REWARDS.
Downtown Office Sublease Listings
55 Broadway
3,250 RSF
Thru 5/30/26
Asking $52
40 Fulton Street
5,663 RSF
Thru 8/2023
Asking $49
One World Trade Center
6,475 RSF
Thru 6/2024
Asking $72
Midtown South Sublease Listings
192 Lexington Avenue
2,976 RSF
Asks $45 PSF
1- 10 Years
915 Broadway
4,182 RSF
Asks $70
Term 2/2023
165 Mercer Street 4,897 RSF Asks $73 Term 4/2024
Subleases in Midtown New York City
111 West 33rd Street
2,932 RSF
Asks $45
Term 10/2026
620 Eighth Avenue
5,375 RSF
Asks $62
Term 2/2026
Penn 1 6,858 RSF Asks $77 Term 4/2025
1325 Sixth Avenue 3,290 RSF Asks $64 Term 7/2023
747 Third Avenue
3,895 RSF
Asks $63
Term 9/2024
100 Park Avenue
5,385 RSF
Asks $72
Term 6/2024
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 solutions for office Tenants seeking stability and value in uncertain times. For information phone Mitchell Waldman at (212) 509-4049.
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