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Commercial loft space in NYC

  • Upon request
Commercial loft space in NYC

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft – office – retail for lease.

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

2nd floor  space for lease 3,000-10,000 sf   The Chelsea Piers Sports & Entertainment Complex is a sports village located in […]

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

Chelsea

1 month ago
  • Upon request
Commercial loft space in NYC

W 18th St, Flatiron Dst, NY, Commercial loft space for rent 5000 sq ft

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

W 18th St,  Flatiron Dst, NY,  Commercial loft space for rent 5000 sq ft Hi floor, Lease term 5-10 yrs, Commercial Loft […]

  • 5000 sq ft
  • Upon request
  • Commercial Loft Space
Details

Chelsea

3 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

5,000 – 20,000 sf,   Open space for lease,  Full floor, hardwood floors, full columns, access to  private penthouse and roof deck.

  • 5000
  • Upon request
  • Commercial Loft Space
Details

SoHo

3 months ago
  • Upon request
W 23rd St. New York, NY, Commercial loft space for rent, 3500-7000 sf, Chelsea.

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

  • Upon request
W 23rd St, New York, NY, USA

W 23rd St. New York, NY,  Commercial loft space for rent, 3500-7000 sf, Chelsea. We will prebuild space, hardwood floors, […]

  • 3500 Sq Ft
  • Upon request
  • Commercial Loft Space
Details

Chelsea

3 months ago
  • Upon request
Art Gallery Space in New York City

W 14th St, Sixth Ave. Class B Office Building 3,000 sf

  • Upon request
W 14th St, New York, NY, USA

3,000 sf,  Hi floor, Lease term 3-5 yrs, Vacant, Office space Bright loft office. Exposed brick, large skylights, hardwood floors and […]

  • 3000 sf
  • Upon request
  • Commercial Loft Space
Details

Chelsea, Sixth Avenue

3 months ago
  • Upon request
Commercial loft property market in New York City

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

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

5,000 – 15,000 sq ft  Office space for lease.  White box with new bathrooms, new windows, new wood floors. Ceiling heights […]

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

Chelsea

3 months ago

Commercial loft space in NYC

 

Commercial loft space in NYC – 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.

Lease/rent Commercial loft space in NYC

What makes the commercial 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 space for commercial use can be found in many areas in New York City

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 (in Chelsea, Midtown South) 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 Queens.

Commercial loft space for sale in New York City ?

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.

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Commercial loft space in NYC
Commercial loft space in NYC
Commercial loft space in NYC

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%

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

  • 300 - 20,000 Sq Ft
  • $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, New York, NY 10001, Office Medical space for lease 1400-2800 square feet

  • 2800 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

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft – office – retail for lease.

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

Chelsea West 25th Street NY NY Class A Office space for lease

  • 4000 Sq Ft
  • Upon request
  • Gallery Space, Office Space
Featured

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