38 West 39th Street

New York, NY 10018

212-581-3003

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Downtown Manhattan Office Space

233 Broadway, NY, NY, Class A Office space 10,000-25,000 sq ft sublease.

  • Upon request
233 Broadway, New York, NY 10279, USA

233 Broadway, NY, NY, Class A Office space 10,000-25,000 sq ft sublease. Class A Office space 10,000-25,000 sq ft  for […]

  • 10000 - 25,000 Sq Ft
  • Upon request
  • Office Space
Details

City Hall, Downtown Manhattan

2 months ago
Featured
  • Upon request
Vesey Street, Downtown Class A Pre-Built Office space for lease 10,000 sf

Vesey Street, Downtown Class A Pre-Built Office space for lease 10,000 sf

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

10,000 sf,  Hi floor, Lease term 5-10 years,   Pre-built upscale office space.

  • 10000 Sq Ft
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

2 months ago
  • Upon request
Wall St, NY, NY, Class A Office Building, space for lease

Wall St, NY, NY, Class A Office Building, space for lease

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

Wall St, NY, NY, Class A Office Building, space for lease 3,000 – 10,000 sf, Hi floors, Vacant, Office space for […]

  • 3000 sf
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

3 months ago
  • Upon request
Broadway

790 Broadway, NYC, Greenwich Village, Class A office

  • Upon request
790 Broadway, New York, NY 10003, USA

790 Broadway, NYC, Greenwich Village, Class A office. Office  space for lease , We will accommodate any size  3600 – 160,000 […]

  • 3600 - 160,000 Sq Ft
  • Upon request
  • Commercial Loft Space, Office Space
Details

Downtown Manhattan, Greenwich Village

3 months ago
  • Upon request
Varick St, New York, NY Hudson Square, Office space for lease 3,000-6,000-26,000 sf

Varick St, New York, NY Hudson Square, Office space for lease 3,000-6,000-26,000 sf

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

Varick St, New York, NY Hudson Square, Office space for lease 3,000-6,000-26,000 sf 3,000 – 26,000 sf, Hi floors, Lease […]

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

Downtown Manhattan, Hudson Square

3 months ago
  • Upon request
Liberty Street, NY, NY Class A Office Building, space for sublease

Liberty Street, NY, NY Class A Office Building, space for sublease

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

2,500 -5,500 -10,000 sf,   Hi floors, Sublease term 3-10 yrs, Vacant, Office Brand-new, high-end installation, fully cabled, with spacious private […]

  • 2500 - 10,000 Sq Ft
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

4 months ago

Downtown Manhattan Office Space

Downtown Manhattan Office Space –  Downtown Manhattan is still the center of New York City businesses and also a cultural hub. Some real-estate owners convert their buildings into apartments, retail shops or restaurants, and the population in the area has triple after 2000.
Lower Manhattan is shifting away from its reputation and beginning to attract young professionals. One of Manhattan’s most well-known historical neighborhoods is Downtown Manhattan, or as most people say Lower Manhattan.

This area is the heart of New York City’s office space buildings and has become increasingly in demand, boasting high-end commercial office buildings with not so pricy average rents and higher free space rate. Some say that the Financial District, a region in Lower Manhattan, is the financial capital of the world and fourth largest business district in the U.S. Financial District offers some of the cheapest or we better say affordable office space in Lower Manhattan.

Downtown Manhattan Office Space for Rent / lease prices

Many of the largest deals reflected renewals by Lower Manhattan’s real estate sectors including FIRE and Government. Other essential deals among FIRE or Government tenants included American Express with near $74 square foot renewal at 200 Vesey Street at Brookfield Place. Rents in this neighborhood are averaging just under $56 per square foot. Another giant complex in Lower Manhattan is World Trade Center featuring five sky rising office buildings and offers more than 20 million square feet. The average asking rent in the center is near $76 per square foot.

One of the most expensive and trendy submarkets is the Tribeca or short for “Triangle Below Canal Street. Office space future tenants can expect a bill for just around $70 per square foot for office space. In other words, the Downtown Manhattan office space is a great choice and ideal for commercial tenants in financial and government institutions due to unmatched proximity to New York City’s heart infrastructure. Class A and Class B office space buildings are preferable from most of the local tenants. Let’s see the numbers:

Class A office space asking rents are $70 per square foot, and Class B spaces are near $62 per square foot and Class C  $55 psf.  Still, with limited activity, the Class A market saw a slight uptick in the free space area along with stagnant, historically high, asking rents.
Midtown Manhattan has plenty of tall Class A office towers that often reach 50+ stories buildings. Class B and C space have trended differently than Class A space in Lower Manhattan.

Finding the best office space needs some researching and seeking for Downtown Manhattan  office space will lead to average overall asking rents floating just under $70 per square foot for Class A and Class B buildings. There are still valuable deals to be had in Lower Manhattan as average rents can be as much as 10% below asking rents. One particular right choice is to sublease an office space for businesses and save money. In this case, owners have to consider some crucial tips for subleasing office space, but that is another story.

Transportation around Downtown Manhattan

It is one of the most communicative places in Manhattan as it sits in the middle between Staten Island, Queens, Bronx and Brooklyn.  Thousands of people are coming each day to Downtown  Manhattan – the beautiful parks are attracting many tourists, students, and workers. It is a perfectly located , very easily accessible by public transport. With convenient access to all kinds of transportation  – 1, 2, 3, 4, 5, 6, A, C, E, R, W, J, Z , N, R, and Q subway lines, regional buses and 2 ferry lines, not to mention one of the best walkability rates in the States.  Trains:

Lexington Avenue Line Apple green "4" train"5" train"6" train"6" express train
Broadway–Seventh Avenue Line Tomato red "1" train"2" train"3" train
Eighth Avenue Line Vivid blue "A" train"C" train"E" train

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Downtown Manhattan Office Space
Financial District Office Space 03
Downtown Manhattan Office Space

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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