Renting an Office in Murray Hill
Renting an Office in Murray Hill
Murray Hill Diner
If your business is considering renting an office in Murray Hill this information will help you. The Murray Hill sub-market includes the area from 38th Street south to 30th Street and Fifth Avenue to the East River. This nabe has a balance of residential and commercial interests that supports a large number of restaurants and after-work venues. While there is no one iconic image denoting Murray Hill, the Empire State Building is certainly its most popular subject.
Need to be closer to transportation? Read about offices at Grand Central Station.
BY THE NUMBERS- RENTING AN OFFICE IN MURRAY HILL
Renting an office in Murray Hill has become more expensive due to increased demand, particularly for “Avenue Addresses”. As of Q2 2014 the occupancy rate was 90.4% with an average asking rent of $49.97 PSF on direct leases. (The adjacent graph was provided by Costar, Commercial Real Estate Information Company.) Asking rents across A, B and C building classes averages $48 PSF.
SAMPLE AVAILABILITY- RENTING AN OFFICE IN Murray Hill
29 East 31st St; 2,400 RSF Open Loft Asking $40.
215 Lexington Ave; 3,785 RSF New Pre-built, Asking $47.
10 East 34th St., 5,500 RSF Proposed Build-to-suit, Asking $47 PSF.
475 Park Avenue South; 5,840 RSF New Pre-built, Call for rent.
171 Madison Avenue; 8,400 RSF Pre-built, Asking $48.
STRATEGY FOR RENTING AN OFFICE IN Murray Hill
Renting an Office in Murray Hill
If you plan on renting an office in Murray Hill contact the experienced NO FEE Tenant Representative Broker, Cogent Realty. Cogent will secure the optimal lease terms for you by utilizing in depth market information, transaction expertise and negotiation skills. Contact Mitch Waldman today: (212) 509-4049.
