Upper East Side Office Space in Limited Supply
Upper East Side Office Space
Upper East Side Office Space, like most everywhere in NYC, is in limited supply in 2016 and expensive. For this discussion we are focusing on commercial buildings in the area between Fifth Avenue and the East River and from 57th Street to 106th Street. While there is high concentration of large office building in close proximity to the south east corner of Central Park, inventory is minimal in areas further north that are primarily zoned for residential use. One trend that has emerged over the past few years is the relocation of retailers away from exorbitantly priced street-level stores ($300- $1,800 PSF) to affordable upstairs boutique showrooms. For information about luxury retailers on Madison Avenue link HERE.
Sample Selection of Currently Available Upper East Side Office Space
135 East 57th Street
S/E/C Lexington Avenue. Class A. Built 1988. Asking rents from $75.00 PSF. Landlord will build-to-suit or provide a Tenant Incentive Package containing a cash contribution and free rent for Tenant-managed office construction.
Pre-built Office
Proposed Office – 6,337 RSF
Pre-built Office – 3,567 RSF
505 Park Avenue N/E/C 59th Street. Class A. Built 1948. Asking rents on request. Landlord will renovate.
505 Park Avenue
Photo courtesy CoStar
22 East 65th Street
Photo courtesy of Costar
Private floor – 2,500 RSF
Private floor- 1,358 RSF
762 Madison Avenue Between 65th & 66th Street. Retail building. Built 1910. New lobby, elevator, windows and security system. Asking rent $95 PSF.
ABOUT COGENT REALTY ADVISORS
Cogent Realty Advisors is an independent and licensed NO FEE Realtor with over 15 years of experience representing businesses that lease NYC office space. Our goal is to secure the right office for your business at the right price. For information, phone Mitchell Waldman at (212) 509-4049.
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