77 West 55th Street

RI Manhattan Realty is ready to provide its clients with all services related to acquisition of the best commercial properties in New York. And for the brokers working in RI Manhattan Realty the best property is the one which works best for the customers. That is why we always start our work with understanding the needs of the client, since they are the key to successful commercial property acquisition.

When dealing with commercial properties acquisitions RI Manhattan Realty first of all works with people. With a wide network of contacts among property owners the company’s brokers negotiate with those who provide the best offers on the market to find those among them whose offers match the best with our clients in terms of price, quality or whatever is important to our client.

Commercial properties acquisition in NYC

Commercial properties for sale are big operations and require a considerable number of checks, research and inspections of the commercial property objects. RI Manhattan Realty professionally handles all of these operations thus letting our customers concentrate on their businesses and choose from thoroughly selected commercial property offerings.

RI Manhattan Realty works with all kind of clients and values all of them – from local customers to transnational companies, groups and chains. Client-centric approach is at the core of the company’s attitude and thus client’s success is at the same time company’s success.

RI Manhattan Realty has a rich experience working with various requirements to commercial properties as well as profound knowledge of regulations (both local and federal) pertaining commercial properties.

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%