Madison Square Park office space

Madison Square Park office space  – Madison Square is an open square shaped by the convergence of Fifth Avenue and Broadway at 23rd Street in the New York City district of Manhattan. It was named after J. Madison, the fourth President of the US. The Madison Square Park in the close past was known as the business focus of New York City. An intriguing truth from the past is that the property costs in Midtown took off during the 80s. That is the reason huge companies had shown up in the zone around Madison Square and the somewhat more moderate territory of Park Avenue South.

Madison Avenue has gotten known as a mall pulled in well off individuals everywhere throughout the world. It has become an image of elevated level design and gems. In spite of the fact that the capacity of this structures may have changed now, its engineering style despite everything helps to remember its previous use. The Madison Square region is offering to its guests a ton of exercises and it is known as a zone with perhaps the best eatery and feasting.

Madison Square Park Office Space for lease/rent

Beautiful old buildings are attracted companies from different businesses, all looking for creativity office space in Manhattan. Because few of the top restaurants in New York City are located here, Madison Square is an attractive place to work in. Around 8 million square feet of office space are home to big and small companies. Many iconic New York buildings are located here – such as Met Life Tower and Everett Building. Large businesses operating from here are the bank companies like Credit Suisse and Shinhan Bank.

Demand and prices for office space for rent in Madison Square Park

The difference of these prices is minimal, if  you check  the available commercial property databases, you will find out  that Madison Square Park office space lease rates are very similar to the median rent prices in Manhattan.

Madison Square Park office space average rent price is: $80 per square foot. 

This is the average price to rent an office in Midtown South. The availability for office space for rent in Madison Square is higher – 15% which is one of the highest in Manhattan and far above the average vacancy in Manhattan is 10.5%. This explains the slightly lower prices here.

Madison Square Park office space Inventory:  around  8 million SF,  available space: 1.5 M  SF, Vacancy Rate: 10.5% 

Transportation around Madison Square Park

The Madison Square Park  transportation joins are astounding. Since it was in the core of Manhattan before, public transport is offering a great deal of varieties to reach this area. Accessible to workers of Fifth Avenue, Broadway, and East Side metro lines – all serve this area. The East Side  runs inline under Park Avenue South, with nearby stations all over the road.

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