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Financial District Office Space

Featured
  • Upon request
Vesey Street, Downtown Class A Pre-Built Office space for lease

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

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

Vesey Street, Downtown Class A Pre-Built Office space for lease 10,000 sf   10,000 sf,  High floor, Lease term 5-10 […]

  • 10000 Sq Ft
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

5 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

6 months ago
  • Upon request
New York City Office Space

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

6 months ago
  • Upon request
John St, NY, NY, Class B Office space for sublease

John St, NY, NY, Class B Office space for sublease

  • Upon request
John St, New York, NY 10038, USA

2,500 sf, 4th floor, Vacant, move in condition, Office space, 4 windowed offices. Large bullpen area. Furniture available. Fully wired […]

  • 2500
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

6 months ago

Broadway, NY, Liberty Streets, Class A Office Building

  • psf $25
Broadway, New York, NY, USA

6,000 sf, 12,000 sf,   Lower Level, Lease term 10-15 yrs, Vacant, Office or Retail space.

  • 6000 - 12,000 Sq Ft
  • psf $25
  • Medical Office Space, Office Space
Details

Downtown Manhattan, Financial District

7 months ago
  • Upon request
Maiden Ln, NY, NY, William St, Class B Office Building

Maiden Ln, NY, NY, William St, Class B Office Building

  • Upon request
Maiden Ln, New York, NY 10038, USA

Maiden Ln, NY, NY, William St, Class B Office Building 7,500 sf,   11th floor, Vacant, As Is condition, Office […]

  • 7500 sf
  • Upon request
  • Office Space
Details

Downtown Manhattan, Financial District

7 months ago

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 easily state that America – as known in the modern ages – has started its history in the same place. This is where the new settlement was established by European immigrants in the 17th Century as New Amsterdam, which is later to become 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 feet for Class A office rent, around: $54 for Class B  and  $46 psf for Class C office rent.

While average prices in Midtown Manhattan are: $96 psf 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.

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

 

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Financial District Office Space 03
Office Space Manhattan NYC
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, Herald Square, NY Office Medical space for lease 1400-2800 square feet

  • 2800 Sq Ft
  • Upon request
  • Medical Office Space, Office Space

36 E 60th Street, NY, NY, Retail, Art Gallery space for lease, UES

  • 1560 Sq Ft
  • Upon request
  • Gallery Space, Retail Space

250 W 54th St, Columbus Circle, NYC Class B Office space for lease

  • 1850 - 3000-10,000 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

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