790 Broadway, NYC, Greenwich Village, Class A office. Office space for lease , We will accommodate any size 3600 – 160,000 […]
Downtown Manhattan, Greenwich Village
Greenwich Village Office Space
Greenwich Village Office Space – Greenwich Village is a district located on the west side of Manhattan, New York City within Lower Manhattan. The locals called it just “The Village”. Also, this neighborhood is known as the Bohemian center in NYC (because it is the center of the American Bohemian movement), attracting artistic communities of people from all over the world. Charming historic buildings are part of this part of Manhattan and some of them are offering spacious grand floors for rent as office space. Well-known businesses like J. Crew and Forbes rent in Greenwich Village office space.
Greenwich Village is a colorful place with a mix of almost any kind of business and company. The creative industries are often choosing Greenwich office spaces for their business home. The neighborhood offers over 7 million square feet of office space. Most of them are slow spaces suitable for smaller artistic companies. Because of very high rental prices, some smaller businesses have redirected their searches to lease for co-working spaces which are lower expenses for them.
This is a good idea to optimize their costs when they want to be in office space in Greenwich Village. The largest companies in the area are presented from businesses like funds, banking, trusts, colleges and securities. These industries have paid the highest prices here. Also, with better possibilities to pay more for office space are businesses such as pharmacy and medicine companies.
If you compare the prices in Greenwich Village district to the publicly available commercial real estate leasing data, you will see that the office lease rates are significant over the average price for New York office space. Considering renting office space in a place like Greenwich Village can be an expensive solution. Businesses that are leasing office space in Greenwich Village district are usually surprised by very expensive office space for lease.
Rental prices are $60-90 per square foot and expected for the best areas in in Manhattan in class A buildings.
The average prices are around $75 psf and vary by different factors. These prices are comparable with Manhattan office space for lease in NoHo and Hudson Square. The availability is extremely low and the most available office space is located in renovated and beautiful historical buildings.
The amount of space to rent or lease is just over 7 million square feet, but as the area is much demanded, the percentage of vacancy is already below 7%, which is below the Manhattan average of 10%.
Because of its central location, Greenwich Village is basically close to everything and offers excellent public transportation – subway or bus options, whatever is more comfortable for the workers coming every day here. These include the 1, 2, 3, 4, 5, 6, A, C, E, B, D, F, M, R, W, and L trains; the M55, M7, M11, M14, and M20 buses; and the PATH Train at Christopher Street, Ninth Street and 14th Street. A well-known fact by the employees is that Greenwich Village is very accessible by foot and a lot of walkers can be seen coming like this way.
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