38 West 39th Street

New York, NY 10018

212-581-3003

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Park Avenue Office Space

  • Upon request
Park Ave, 59th St. 10022 NY Class A Office space for lease, Plaza Dst.

Park Ave, 59th St. 10022 NY Class A Office space for lease, Plaza Dst.

  • Upon request
Park Ave & E 59th St, New York, NY 10022, USA

1,500 sf, 3,000 sf,   20th floor,  As Is condition, Office space, Corner suite with eastern and southern views.  windowed […]

  • 1500 sf
  • Upon request
  • Office Space
Details

Park Avenue, Plaza District

5 months ago
  • Below market
Park Ave

Park Ave, NY, NY, 39th St, Class A Office Building, 2,600 – 4500 sf

  • Below market
Park Ave, New York, NY, 10016 USA

Park Ave, NY, NY, 39th St, Class A Office Building, 2,600 – 4500 sf 2,600 – 4500 sf,   High floor, […]

  • 2600 sf
  • Below market
  • Office Space
Details

Murray Hill, Park Avenue

6 months ago
  • Upon request
Park Ave S, Manhattan, NY, 30s St, Class A Office space for sublease

Park Ave S, Manhattan, NY, 30s St, Class A Office space for sublease

  • Upon request
Park Ave S, New York, NY, USA

2,000 – 4,400 sf, Hi floor, Lease term 5-10 yrs, Vacant, Office space, 2 very large executive offices with large […]

  • 2000 - 4,400 Sq Ft
  • Upon request
  • Office Space
Details

Murray Hill, Park Avenue

6 months ago
  • Upon request
E 40th St, Bryant Park, NY, 5th Ave, Class B Office Building

E 21st St, New York, NY, Park Ave South, Class B Office Building

  • Upon request
E 21st St, New York, NY, USA

5,000 sf,   4th floor, Lease term 5 yrs, Vacant, Office space, Exposed brick and ceilings, combination of offices, conference […]

  • 5000 sf
  • Upon request
  • Office Space
Details

Midtown South, Park Avenue

6 months ago
  • Upon request
Broadway, NY, NY, Murray St, Class B Office for lease or sale

E 23rd St, New York, NY, Park Ave South , Class B Office Building

  • Upon request
E 23rd St, New York, NY 10010, USA

2,500 sf,   5th floor,Possession Arranged, Office space, Potential live/work. 5th & 6th Floors connected by open internal stairway. Wood […]

  • 2500 sf
  • Upon request
  • Office Space
Details

Midtown South, Park Avenue

7 months ago
  • Upon request
Office Space Manhattan NYC

E 32nd St, NY, NY, Park Ave, Class B Office Building

  • Upon request
E 32nd St, New York, NY 10016, USA

2,448 sf,    15th floor, Vacant, As Is condition, Office space, Landlord will provide long term Direct deal with qualified […]

  • Office Space
Details

Park Avenue

7 months ago

Park Avenue Office Space

Park Avenue Office Space – Park Avenue, surrounded by Midtown and Grand Central district, contains some of New York’s most luxurious Class A office space for lease or sale, with some famous and iconic office buildings like 200 Park Ave, Metlife,  300 Park Avenue,  320 Park Avenue,  350 Park Avenue,  390 Park Avenue,  400 Park Avenue,  425 Park Avenue and 499 Park Avenue. A historical fact is that 399 Park Avenue was built in early 50s by a soap company. The renowned architect Mies van der Rohe designed the 375 Park Avenue,  Inside the  Building is the well-known luxury Four Seasons Restaurant which is the top spot in Manhattan.

Park Avenue Office Spaces for lease

Manhattan is filled with business districts and high-end class office buildings lining on some great streets such as Avenue of the Americas, Park Avenue, Madison AvenueFifth Ave., Lexington Ave, 42nd Street,  WTC.  New York office space for rent becomes the area that has some of the highest per square foot office leasing available, which top companies tenants from around the world are nesting there. Plenty of opportunities are available such as creative or boutique shops, to find an attractive Park Avenue office space for lease.

Wonder why this area is known as the highest asking rents in Manhattan? Office space comes as a premium and five-star luxury buildings in Midtown. Park Avenue is, in general, the most expensive area in the Manhattan office space area. Taller office towers in the area are surrounding Grand Central Terminal, which is likely to spur development on Park Avenue. JPMorgan Chase is the banking mountain and planning to build a new high rise tower on the site to house its offices.

Demand and prices for office spaces for rent on Park Avenue

Park Avenue is the host of Citigroup, Colgate-Palmolive, and Both Major League Baseball and the National Football League and their headquarters. At the very beginning of Park Avenue arises  200 Park Avenue, also called the MetLife Building. When it opened in early 60s, it was the Pan Am Building. With about three million square feet of floor area, it was the largest office building in the world. Park Avenue is one of the significant price streets not only in New York but in the world.

Many companies know this area as international corporations and fast-growing businesses in Midtown Manhattan. Its name heals prestige, and domestic and foreign investors are willing to set up their offices on this famous area running between 42nd and 60th Streets.  These well known architectonic landmarks just like the Seagram Building, Grand Central Terminal, Lever House, the MetLife Building, or the Waldorf-Astoria, this area of NYC has continually been the favored preference of prominent profile tenants.

The average market price on Park Avenue asks between $80 and $110 per square foot for Class A office rent, and between $60 and $80 psf for Class B office rent.

Transportation in Park Avenue

This region includes transportation to Grand Central Terminal serviced by Metro North, East Side 4, 5, and 6 trains, and the seven shuttles. The highly-trafficked Park Avenue transportation tunnel also benefits from various public transportation options. East Side IRT subway has express and local stops all along Lexington Avenue, a block to the east. Fortunately, this entire stretch of Park Avenue sits on top of the tracks and platforms of Grand Central Terminal.

Lexington Avenue Line Apple green "4" train"5" train"6" train"6" express train

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Park Avenue Office Space
Park Avenue Office Space 02
Park Avenue 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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