Financial District Office Space

Financial District Office Space –  Located on the southernmost tip of Manhattan Island, the Financial District is the place that symbolizes the spirit of America as a land of opportunities and the financial power of modern banking and international businesses. You could accurately state that America as known in the modern ages has started its history in the same place. This is where the new settlement was developed by European immigrants about 360 years ego as New Amsterdam, which is later turned in to the City of New York.

It also symbolizes the place of the ability of America to overcome the 9/11 attacks and to continue. It is, where Wall St is with its iconic NYSE, the One World Trade Center and all the skyscrapers depicting the famous landscape of the Financial District. The Financial District is one of the biggest business districts in America and is saturated with financial companies and mid-sized startups. Geographically, Financial District is the entire area south of Chambers Street and the Brooklyn Bridge, but excluding Battery Park.

Financial District Office Space for lease/rent

The area is home to many financial institutions – banks, insurance companies, investment funds, brokers and the New York Stock Exchange and the Federal Bank of New York. The area is landscaped almost entirely of high-rises, with a small exception of the Seaport District – just below the Brooklyn Bridge – which has many historical art deco buildings and is a residential area – a charm from the old days. This is where a new trend is becoming visible – residents to be close to their workspace and maintain a good level of work-life balance.

Still a small number – around 50 000 people but the easy commute and the nearby parks and nice places to eat, not to forget the view of the Brooklyn Bridge – attract residents. The area of the Financial District (or shortly FiDi) is dominated by offices and a few hotels.  People are uncommon on the streets after the finish of the business day, the territory is nearly abandoned and void. This is a reasonable sign that relatively few individuals live around and there is a ton of office space around. How this influences the market for office spaces for lease /rent?

Demand and prices for office space for rent in Financial District – FiDi

The vacancy rate for office space in Financial District is in line with the median rate for Manhattan around: 10.5%. Office space inventory is one of the biggest in all Manhattan areas – over 50 million square feet. The availability of office space is keeping prices low and many companies are being attracted by the availability of office space and the easy commute.

The overall market in Financial District asks around: $68 per square foot for Class A office rent, around: $54 for Class B  and  $46 per SF for Class C office rent.

While average prices in Midtown Manhattan are: $96 per SF for Class A and $74 for Class B office space, Financial District office space is a good alternative, given the proximity of other businesses (mostly in finance and insurance) and the attractive office space lease rates.

We offer excellent deals as a fully built-out and furnished office subleases in the area in class A and B buildings for $40-55 per square foot.

Transportation around Financial District

It is one of the most communicative places in Manhattan as it sits in the middle between Staten Island, Queens, Bronx and Brooklyn. You can basically use all kinds of transportation  – 1, 2, 3, 4, 5, 6, A, C, E, R, W, J, and Z subway lines, regional buses and 2 ferry lines, not to mention one of the best walkability rates in the States.  Trains:

Lexington Avenue Line

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Broadway–Seventh Avenue Line

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Eighth Avenue Line

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MANHATTAN OFFICE SPACE MARKET INFORMATION