77 West 55th Street

New York, New York 10019 38 W 39th St. NY NY 10018

212-581-3003

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Commercial loft property market in New York City

  • Upon request
Commercial loft space

W 18th St, Flatiron District, Commercial loft space for rent 2500-5000 Sq Ft

  • Upon request
W 18th St, New York, NY 10011, USA

W 18th St,  Flatiron District,  Commercial loft space for rent 2500-5000 Sq Ft Flatiron District, Commercial loft space for rent […]

  • 2500 - 5000 Sq Ft
  • Upon request
  • Commercial Loft Space
Details

Chelsea, Flatiron District

11 months ago
  • Upon request
Commercial loft space

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft space for rent

  • Upon request
11th Ave, New York, NY, USA

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft space for rent 2nd floor  space for lease 3,000-10,000 sf  […]

  • 3000 - 10,000 Sq Ft
  • Upon request
  • Commercial Loft Space
Details

Chelsea

12 months ago
  • Upon request
Spring St, Soho, NY, Wooster St, Loft Office Building

Spring St, Soho, NY, Wooster St, Loft Office Building

  • Upon request
Spring St, New York, NY, USA

Spring St, Soho, NY, Wooster St, Loft Office for lease    5,000 – 20,000 sf,   Open space for lease, Loft Office […]

  • 5000 - 20,000 Sq Ft
  • Upon request
  • Commercial Loft Space, Office Space
Details

SoHo

12 months ago

W 23rd St. New York, NY, Commercial loft space for rent, 3500-7000 sf, Chelsea.

  • Low price
W 23rd St, New York, NY, USA

W 23rd St. New York, NY,  Commercial loft space for rent, 3500-7000 sf, Chelsea. Commercial loft space for rent, low […]

  • 3500 - 7000 Sq Ft
  • Low price
  • Commercial Loft Space
Details

Chelsea

12 months ago
  • $40 per SF 
Art Gallery Space in New York City

W 14th St, Sixth Ave. Class B Office for rent 1,500 sf – 3,000 sf

  • $40 per SF 
W 14th St, New York, NY, USA

W 14th St, Sixth Ave. Class B Office for rent 1,500 –  3,000 sf $40 per SF  1,500 – 3,000 […]

  • 1500 3000 SF
  • $40 per SF 
  • Commercial Loft Space
Details

Chelsea, Sixth Avenue

12 months ago
  • Upon request
Commercial loft property

W 18th Street, NY, NY, 5th Ave, Class B Office space for rent 5000-15000 sq ft.

  • Upon request
W 18th St, New York, NY 10011, USA

W 18th Street, NY, NY, 5th Ave, Class B Office space for rent 5000-15000 sq ft. 5,000 – 15,000 sq […]

  • 5000 15,000 Sq Ft
  • Upon request
  • Commercial Loft Space, Office Space
Details

Chelsea

12 months ago

Penn Station, NY, Class B Office space for rent 4000-8000 sf

  • $35 PSF
W 36th St, New York, NY 10018, USA

Penn Station, NY, Class B Office space for rent 4000-8000 sf $35 per Sq. Ft.  Low price  Entire floor presence, […]

  • 4000 - 8000 Sq Ft
  • $35 PSF
  • Commercial Loft Space, Office Space
Details

Midtown South, Penn Station

12 months ago

Union Sq E, NY, East 15th Street, Class B office for rent

  • Low price
Union Square E, New York, NY 10003, USA

Union Sq E, NY, East 15th Street, Class B office for rent   1,600 – 2,800 sf, High  floor, Lease […]

  • 1600 2800 Sq Ft
  • Low price
  • Commercial Loft Space
Details

Union Square

12 months ago

West 20s, Manhattan NYC, Chelsea, Art Gallery District, space for lease

  • $40 per SF
20 West St, New York, NY 10001, USA

West 20s, Manhattan NYC, Chelsea, Art Gallery District, space for lease   2,000 sf, – 6,000 sf,   for Lease […]

  • 2000 - 6000 Sq. Ft.
  • $40 per SF
  • Commercial Loft Space, Gallery Space
Details

Chelsea

12 months ago

Commercial loft property market in New York City

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Everybody has seen movies or TV Series, where the main character is inhabiting a big apartment with high ceilings with red brick walls and a dedicated elevator to reach the apartment. The main character is looking from the windows where he sees an industrial area and skyscrapers in the background.
Such properties are defined as lofts and it is true that artists made them famous and wanted. The economic downturn in the 1960s left many industrial spaces (factories, warehouses, slaughterhouses) abandoned and derelict. As they were concentrated on certain areas of New York, whole neighbourhoods became ghost cities where no one was working or living. It was at that time, when artists found inspiration in those abandoned places and made them their studios where art was created. In fact, this conversion is something quintessential for New York on par with the Empire State Building or Central Park.

Commercial loft for lease in New York City

What makes the loft different from other property classes is exactly its former purpose – being an industrial building. High ceilings, big window openings to get as much natural light as possible, wide open spaces, dedicated elevators, brick walls and visible elements of plumbing or heating and ventilation are among the characteristic of a loft.
Interestingly enough – such properties are finding new fans among businesses who use them for commercial purpose.
Engineering and tech companies, Startups and art-related businesses (Marketing, PR, Ads) are the likely tenants for such properties, where they find back the inspiration of an old factory design to fuel their innovation and creative processes. Most of the buildings have been updated to current technical standards, but the main visual elements of the infrastructure have remained visible.

Loft spaces for commercial use can be found on many areas in New York.

Manhattan has its lofts located around SoHo and Tribeca, and some in Flatiron District, the Garment District, Meatpacking District and Chelsea. Given the premium location, you can expect leasing rate to be higher than average.
Affordable commercial lofts can be found in the former industrial areas of New York such as Red Hook, Williamsburg and Bushwick in Brooklyn. Queens has its lofts in Long Island City and Astoria.
Leasing rates of commercial lofts are typically lower than the rates of classical office space and this makes them also attractive on the market. A recent offer for a commercial loft on West 25th Street (close to Midtown) asks between $50 and $65 per square feet depending on the floor.
Being on a budget – you can have commercial lofts for rent with asking rates around $27 to $40 in Brooklyn and or Staten Island.

Commercial loft for sale in New York

Opportunities for commercial lofts for sale and not a lot, since they are an area of big interest and businesses are competing also with private investors, who are looking for deals for refurbishing lofts in order to increase their market value. Offers are available in wide ranges – starting from $1 million all the way up to $40 million for properties in lower Manhattan.

Commercial loft space
Commercial loft space
Commercial loft

MANHATTAN OFFICE SPACE MARKET INFORMATION

  • INVENTORY SF 376 M +1.0% Prior Period 373 M
  • UNDER CONSTRUCTION SF10.2 M -10.3%Prior Period 11.4 M\
  • VACANCY RATE11.7% +1.0%Prior Period 10.7%
  • AVERAGE MARKET RENT/SF$76.15 +1.2%Prior Period $75.25
  • MARKET SALE PRICE/SF$904 +2.9%Prior Period $878
  • MARKET CAP RATE4.3% Prior Period 4.3%

Availability

  • Vacant SF 40.7 M Sublet SF 11.8 M
  • Availability Rate 18.3% Available SF 65.8 M
  • Available average Asking Rent/SF $60.04
  • Occupancy Rate 88.3% Percent Leased Rate 91.5%

Office Sales Past Year

  • Asking Price Per SF $701
  • Sale to Asking Price Differential -1.4%
  • Sales Volume $7.5 B
  • Properties Sold 104
  • Months to Sale 11.0
  • For Sale Listings 142
  • Total For Sale SF 1.3 M

Demand

  • 12 Months Net Absorp % of Inventory -0.1%
  • 12 Months Leased SF 32 M
  • Months on Market 8.2
  • Months to Lease 12.1
  • Months Vacant 11.0
  • 24 Months Lease Renewal Rate 35.1%
  • Population Growth 5 Years 3.0%
nyc.manhattan2

30 E 60th Street, NY, NY Office Medical space for lease 500-25000 sq ft

  • 300 - 20,000 Sq Ft
  • $60-$70 per SF
  • Medical Office Space, Office Space
Featured

30 E 60th Street, NY, NY, Retail, Art Gallery space for lease, UES

  • 1700 - 3500 Sq Ft
  • Upon request
  • Gallery Space, Retail Space

18 W 33rd St, Herald Square, NY Office Medical space for lease or sale 1400-2800 square feet

  • 1400 2800 Sq Ft
  • $40 per SF
  • Medical Office Space, Office Space

36 E 60th Street, NY, NY, Retail, Art Gallery space for lease, UES

  • 1560 Sq Ft
  • Upon request
  • Gallery Space, Retail Space

250 W 54th St, Columbus Circle, NYC Class B Office space for lease

  • 1850 - 3000-10,000 Sq Ft
  • Upon request
  • Medical Office Space, Office Space

14 E 55th Street, Plaza District, NY, Medical office space for lease 2,000 + 2,000 sf

  • 2000 Sq Ft
  • Negotiable
  • Office Space, Showroom Space

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