Hudson Square Office Rental
Hudson Square Office Rental
Renting an office in Hudson Square
Thinking about a Hudson Square office rental? Hudson Square is NYC’s most creative hub and populated by more than 1,000 businesses working in advertising, architecture, media, design and boutique financial services. Once the center of the printing industry, its buildings have expansive floors, high ceilings and plenty of light to create high energy offices.
Hudson Square
Hudson Square is bounded by the West Village, SOHO and Tribeca. It bustles during the work week but is quiet on weekends due to a scarcity of housing. This will soon change as a result of approved rezoning which permits the construction and redevelopment of new residential and hotel projects. The tally and diversity of restaurants should also increase significantly. Transportation is provided by the: 1/2 train to Houston or Canal; A/C/E to Spring or Canal; and the PATH to Christopher.
Hudson Square Office Rental
Hudson Square
Rent and Vacancy Rate
5-Year History
Renting an office in Hudson Square has become expensive due to burgeoning demand and limited supply. As of Q3 2013 the vacancy rate was just 4.9% with an average asking rent of $57.35 PSF. (The adjacent graph was provided by Costar.) Rents range from a minimum of $39 per rentable square foot up to $85 for a penthouse with panoramic views. Typically, Hudson Square Landlord’s do not offer “build to suit” leases, although previously built second generation spaces can sometimes be found. Rather, a cash contribution and rent abatement is provided to partially offset the cost of Tenant managed construction.
Hudson Square Office
Best Strategy for a HUDSON SQUARE Office Rental
Building Agents (the Landlord’s Agent) are under contract with a building owner to lease space at the highest rents obtainable. Companies that negotiate directly with a Landlord or its Agent are at a disadvantage because they are unaware of: (1) all of the available spaces and the pricing in comparable properties; (2) the economic terms of recently signed leases; and (3) local market practices. By hiring a an experienced Tenant Representation Broker you can be assured of the best deal when you are renting an office in Hudson Square or elsewhere in NYC. Cogent Realty Advisors is a NO FEE Tenant Representation Broker with over 15 years of success. Contact Mitchell Waldman today: (212) 509-4049.
