38 West 39th Street

New York, NY 10018

212-581-3003

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Fifth Avenue Office Space

  • Upon request
5th Ave, Plaza District NY, 10019 Class A Office space for rent 3,000 sf.

5th Ave, Plaza District NY, 10019 Class A Office space for rent 3,000 sf.

  • Upon request
726 5th Ave, New York, NY 10019, USA

5th Ave, Plaza District NY, 56th Street, Class A Office space for rent 3,000-5000 sf  3,000 – 5,000 sf,   Hi floor, Vacant, […]

  • 3000 Sq Ft
  • Upon request
  • Office Space
Details

5th Avenue, Midtown Manhattan, Plaza District

2 months ago
  • Below market

Fifth Ave, New York, NY, 40s Class A Office Building 4500-11000 sf

  • Below market
5th Ave, New York, NY, USA

4500 – 11,000 sf,    14th floor, Lease term 3-12 yrs, As Is condition, Office space,  Trading floor, 35 work stations, […]

  • 4500 - 11,000 Sq Ft
  • Below market
  • Office Space
Details

5th Avenue, Grand Central

3 months ago
  • Upon request
W 22nd Street, 5th Ave, Class B Office Building, 5000-12,000 sf

W 22nd Street, 5th Ave, Class B Office Building, 5000-12,000 sf

  • Upon request
W 22nd St, New York, NY, 10010

5,000 -12,000 sf,  Hi floor, Vacant office space, Exceptional natural light, great views. High exposed ceilings and polished concrete floors. The space is […]

  • 5000 sf
  • Upon request
  • Office Space
Details

5th Avenue, Flatiron District

3 months ago
  • Upon request
W 46th St, 5th Ave, Medical office space for rent in Midtown Manhattan

W 46th St, 5th Ave, Medical office space for rent in Midtown Manhattan

  • Upon request
5th Ave & W 46th St, New York, NY 10036, USA

W 46th St, 5th Ave,  Medical office space for rent in Midtown Manhattan. 3,500 – 5,500 Hi floor, Vacant, , Office […]

  • 3500 - 5500 Sq Ft
  • Upon request
  • Office Space
Details

5th Avenue, Midtown Manhattan

3 months ago

W 17th St, Fifth Avenues, Class B Office space for lease

  • $45 psf
5th Ave & W 17th St, New York, NY 10003, USA

2,200 sf, 4,400 sf, 6th floor, Vacant, Office space. Newly refinished, open loft. Great hardwood floors, lots of windows, 2 […]

  • 2200 - 4400 Sq Ft
  • $45 psf
  • Office Space
Details

5th Avenue, Chelsea

3 months ago

E 41st St, New York, NY, 5th Ave, Office space for lease

  • $42
E 41st St, New York, NY, USA

4,300 sf,    10th floor, Lease term yrs, Possession Arranged, As Is condition, Office space, 8 windowed offices, conference room […]

  • Office Space
Details

5th Avenue, Grand Central

4 months ago

Fifth Avenue Office Space

Fifth Avenue Office Space  – There is no denying the fact if there isn’t a street in the world, which gathers more fame than 5th Avenue. In fact – it is coming on your mind when you start thinking “Which is the most famous street in the world?” The street is existing since the beginning of the 19th Century and it was and remains one of the main sights on the island of Manhattan.

5th Avenue is now a major attraction due to its high-end shops and a major point of interest for tourists due to its many historical buildings, some well-known in the world.  Not to mention, that the famous Central Park is situated on its western side. Metropolitan Museum Of Art, and the famous Plaza Hotel, Flatiron Building and Empire State Building are also on it – so the people potential has always been a part of 5th Avenue.

Fifth Avenue Office Space for lease

Historically, 5th Avenue was the attraction point for many residents and visitors of New York City. This has made the street not only one of the most famous in the world but also has attracted prestigious labels to open their major stores there. We are talking about luxury brands from the fashion industry, jewelry, premium digital items. A lot of influential businesses have their offices located on 5th Avenue or the nearby parallel streets.

A new trend is tech and media companies (used as the abbreviation TAMI, coming from “Technology, Advertising, Media and Information”). Given the high rate of pedestrian traffic, you can expect also major retail chains also to be present, and they are.The landscape is characterized by skyscrapers followed by historical buildings, which now house art museums, hotels and offices, with a lot of architectural and/or historical heritage to NYC.  How all this is reflected in the market for office spaces for rent or lease?

Demand and prices for office space for rent on 5th Avenue

As we said, Manhattan is attracting a lot of new tenants every year and the demand for retail and office space is continuing to grow year-over-year so you could expect it reflected on the prices. If you lease office space on 5th Avenue is going to be on the higher price range in the whole of NYC.
Bear in mind, that the office space vacancy rate in Q4 2019 was only 10% for the whole of Manhattan.

5th Avenue is not an exception from that and you can expect a premium-tag to be asked due to the location of the facility and also expect to have reduced availability of office space in that area. For example, the vacancy rate in Midtown South was last quarter at around 8%. 

The overall market on Fifth Avenue office space asks between $80 and $100 per square foot for Class A office rent, and between $55 and $70 for Class B office rent. Fifth Avenue remains the heart of Manhattan so it is very unlikely office space to be available in huge numbers on it. Expect to pay a premium (if not the highest in NYC at all) and availability to be tight. If your business depends on high bandwidth internet speed, you have to be carefully choosing as not all buildings can offer it due to their age.

Transportation around 5th Avenue

5th Avenue crosses Manhattan from Northeast to Southeast. Best way to get around is by car and/or taxi (Uber). You can also cycle and walk by foot if you are in the neighbourhood. Public transport is buses only – bus line M1, M2, M3 and M4 go all along 5th Avenue.

 

Fifth Avenue Office Space
Fifth Avenue Office Space
Fifth Avenue 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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