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Harlem Office Space

2916 Frederick Douglass Blvd, Harlem NY 10039 Office or Medical for lease

  • $36/PSF
2916 Frederick Douglass Blvd, New York, NY 10039, USA

2916 Frederick Douglass Blvd, Harlem NY 10039   Office or Medical space for lease. 2000 sf  3rd floor, $36 psf,  Lease term negotiable.  […]

  • 2000 sf
  • $36/PSF
  • Office Space
Details

Harlem

7 months ago
  • Price Upon request
Office buildings for sale in Manhattan NYC

East 125th St, Harlem, NY, Class B Office space

  • Price Upon request
E 125th St, New York, NY 10035, USA

East 125th St, Harlem, NY, Class B Office space 2,500 -5000-10,000 sf,  High floors, Lease term 3-15 yrs, Vacant, Office […]

  • 2500 - 5000 Sq Ft
  • Price Upon request
  • Medical Office Space, Office Space
Details

Harlem

9 months ago
  • Upon request
Office Space Manhattan NYC

Amsterdam Ave, NY, NY, 126th St, Class C Office Building

  • Upon request
Amsterdam Ave, New York, NY, USA

10,000 sf, 20,000 sf, level, Vacant, Office or Retail space, Cellar & Sub-cellar space. ICIP, ConEd & NYS Gas Electric […]

  • 10000 sf
  • Upon request
  • Office Space
Details

Harlem

9 months ago

Harlem Office Space

Harlem Office Space – If you have to define which is the most diverse, inspirational and colorful New York neighborhood, you will surely think about Harlem as one of them. Situated on the north part of Manhattan Island, Harlem has been established in the 17th century by European settlers. After being fought over between the settlers and the British, it has been burned to the ground and then re-established. Being mostly agricultural, the neighborhood soon started to attract European settlers of Italian and Jewish ancestry.

The Great Migration brought a lot of Americans in the area in 1920. Since the 1990s Puerto Rican migrants added to the already vibrant and diverse multicultural ethnicity of the neighborhood. That all has shaped Harlem as a culturally diverse area, where you have always something new on the corner to enrich you. It is located just north of Central Park and reaches West 155th Street in the north, it is between Hudson River and 5th Avenue.

  Harlem Office Space for lease/rent

Historically, Harlem is a purely residential area. The high number of American newcomers in the 1920s has shaped the area as home also to a lot of theatres and music venues that gave many artists an opportunity to show their talents – Apollo Theatre and the Savoy Ballroom continue working today and remember the events of Duke Ellington, Josephine Baker, and Louis Armstrong. With a prevailing number of  residents, rezoning and modernization projects in the last 10 years have attracted Harlem a new wave of residents.

Attracted by the low prices, plenty of parks and the nearby colleges (Columbia University and the City College of New York), students enjoy the rich mixture of cultures, famous art scenes and plenty of spaces to eat out. As there were plenty of young workers around, soon start-ups and small companies started setting up their offices in Harlem. With the availability of new-built Harlem office space with attractive prices and plenty of workers to choose from, businesses started to move in.

Demand and prices for office space for rent in Harlem ?

 

The overall market in the wider Harlem area asking rent: between $40 and $50 per square feet.

This is much lower than what businesses are paying in Midtown or Lower Manhattan, and there is a demand for office space for rent from start-ups and healthcare-related businesses. About 33% is the increase of businesses established in Harlem in the last 10 years, with the healthcare sector being the biggest employer in the area.The variety of Harlem office space availability is drawing businesses that looking to lower their fixed expenses and find easily workers. In the event that you contrast these costs with the openly accessible business and commercial office renting information, you can see that

Harlem office lease rates are much below the average price for Manhattan, they are around: $80 per square foot for Class A buildings and just around: $60 for a lease in a Class B Building.

Gentrification stepped in in Harlem in recent years and this is visible also on the prices of residential buildings. If the trend continues, Harlem might reach the price levels of Manhattan-Midtown in 8 to 10 years. If you decide to lease office space long-term now, this will definitely be a good opportunity for a small to medium size company.

Transportation in Harlem

The location of Harlem determines it as a strong public transport hub. You get plenty of New York Metro lines – A, B, C, D and 1, 2, 3 trains have all stops across Harlem. You can also use 5 Bronx bus lines and plenty of Manhattan bus lines. On 125th Street there is a rail station of the Metro North Railroad, where you can get the 4, 5 and 6 trains and also get regional trains to other counties in the vicinity.

Trains:

 Lexington Avenue Line green"4" train"5" train"6" train"6" express 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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Harlem Office Space
Harlem Office Space 02

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

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