38 West 39th Street

New York, NY 10018

212-581-3003

24/7 Customer Support

Mon - Fri: 24/7

Always open online

Garment District Office Space

Broadway, NYC, 36th St, Class B Office Building, Showrooms for lease.

  • $50 per SF
Broadway, New York, NY 10018, USA

Broadway, NYC, 36th St, Class B Office Building, Office or Showrooms for lease.   High Floors,  3,000 – 5,000 Sq […]

  • 3000 - 5000 Sq Ft
  • $50 per SF
  • Office Space, Showroom Space
Details

Garment District, Herald Square

8 months ago

W 37th St, NY, NY, 7th Ave, Class B Office Building

  • $40
W 37th St, New York, NY 10018, USA

8000 sf, 2nd floor, Lease term 10 yrs, Possession Arranged, Loft office space, Space is contiguous to 3rd floor. Both […]

  • 8000 - 16,000 Sq Ft
  • $40
  • Office Space
Details

Garment District, Midtown Manhattan

9 months ago
  • Upon request
Broadway Showroom for rent NYC

Broadway, 40s, Class A Office space, Showroom for rent NYC.

  • Upon request
Broadway, New York, NY, USA 10018

Broadway, 40s, Class A Office space, Showroom for rent in NYC.   2500 sf, 3500 sf  – 7,500 – 12,000 […]

  • 3500 - 7500 Sq Ft
  • Upon request
  • Office Space, Showroom Space
Details

Garment District, Time Square

10 months ago
  • Upon request
Broadway, NYC, 40s, Class A Office Building, Showrooms for lease.

Broadway, NYC, 40s, Class A Office Building, Showrooms for lease.

  • Upon request
1410 Broadway, New York, NY 10018, USA

Broadway, NYC, 40s, Class A Office Building, Showrooms for rent. 2,800 sf, 4,500 – 11,000 sf, High floors, Vacant, Office, […]

  • 2800 - 4500 Sq Ft
  • Upon request
  • Office Space, Showroom Space
Details

Broadway, Garment District

10 months ago
  • Upon request
Office Space Manhattan NYC

Avenue of the Americas, NY, NY, 36th St, Office space for lease

  • Upon request
6th Ave, New York, NY, USA

Avenue of the Americas, NY, NY, 36th St, Office space for lease 13,500 sf,    3rd floor, Vacant, Office space, […]

  • 13500 sf
  • Upon request
  • Office Space, Showroom Space
Details

Garment District, Midtown Manhattan

11 months ago

Garment District Office Space

Garment District Office Space  – Garment District Submarket contains around than seventy M square feet of office space, making it the second biggest submarket in the country, behind Manhattan’s Plaza District. It stretches out from low 3o”s to 41st Street, and from Fifth Avenue as far as west to the Twelve Ave. The territory is home to request drivers, for example, Penn Station, which gives admittance to Amtrak and passenger trains serving New Jersey and Long Island, Madison Square Garden, the Javits Convention Center, and the High Line.

However the area’s most prominent fascination is its latest one: Hudson Yards, a Twenty five billion blended use advancement that opened early last year. Rezoning endeavors in the region have opened the entryway for engineers to make an extravagance live/work/play network in a once underutilized area of Midtown that has changed the workplace scene of Manhattan.

Apparel and Fashion organizations comprise the biggest tenant class by a wide margin, especially in the Garment District area of the submarket. TAMI firms likewise speak to a sizable unexpected, alongside a developing nearness of account firms, the two of which have moved to huge square spaces in the new pinnacles at the West side development and Manhattan West turns of events. This movement from neighboring submarkets originates from firms presently using their office space as a representative enrollment instrument; driving them to support new structures with refreshed pleasantries.

Garment District Office Space for lease/rent

Since March, nonetheless, the widespread episode has basically stopped all office leasing exercises in New York City. Despite the fact that the widespread has added to substantial occupation misfortunes in the retail and neighborliness area, misfortunes have showed up in office leasing businesses also. With incomes hindered and telecommute being a practical alternative, a situation where more space goes ahead the market while tenant interest for new space decreases is likely. With numerous organizations delaying any drawn out office renting choices, Garment District and Penn Plaza experienced renting action close to record lows this year so far, while occupiers decided to sublease huge squares of space.

Toward the finish of 2020 Q2, the Garment District submarket contained 11 million square feet under development, which is more than set up metros like San Francisco, Chicago, and Los Angeles. Notwithstanding the raised degrees of development, request stays hearty, with new structures conveying about completely involved. Developers will probably hold up until the residue settles before seeking after any extra theoretical tasks.

Garment District office space Inventory: around  70 million SF,  available space: 10 million SF, Vacancy Rate: 9%

Garment District Office Space demand and prices for rent

The expansion of new developments in Garment District area gracefully has swelled normal rents in the area, as the advanced spaces are instructing head of the market leases well above $90 per square foot. Rental development by and large is predictable with most pockets of Manhattan, seeing additions moderate as of late as more seasoned resources have thought that it was hard to contend on cost with new or like new resources. These more vintage resources will be generally vulnerable to lease diminishes, if interest for space reduces drastically.

Garment District office space rent prices for Class A around: $83 per square foot. 

Class B office space is priced around:  $62 per square foot. 

On the off possibility that the widespread triggers an all incorporating stoppage demanded, chances will possibly climb and also the time on market for certain schedules will certainly increment as well. This will possibly cause degree to unfavorable lease advancement for Garment District submarket over the city trusting the severity of the economic lull as obtainable gracefully will to an excellent level exceed tenants passion for new space. On the off chance that homeowner want to maintain their face leases, the amount used to renters as concessions, especially totally free rental fee, may increment subsequently.

Investors and developers are planning to use the extended tenants demand created from the West Side change similarly as the redevelopment in progress at the Garment District and  Penn Station’s new travel community point that is set to be done this year. Interests searching for regard incorporate openings have included a segment of the progressing top trades as money related experts plan to benefit by the strong enthusiasm for space in the area through rebuilds of more settled assets.

.

garment district office space
garment district office space
garment district 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 or sale 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

Compare listings

Compare