38 West 39th Street

New York, NY 10018

212-581-3003

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SoHo Office Space market

  • Upon request
Broadway, New York, NY, Soho, Class B Office Building, Sublease

Broadway, New York, NY, Soho, Class B Office Building, Sublease

  • Upon request
Broadway, New York, NY, USA 10012

Broadway, New York, NY, Soho, Class B Office Building, Sublease 4,000 – 8,000 sf, hi floor, move in condition, vacant […]

  • 4000 - 8,000 Sq Ft
  • Upon request
  • Office Space
Details

Broadway, SoHo

6 months ago
  • Upon request
Office Space Manhattan NYC

Spring St, New York, NY, Wooster St, Class C Office Building

  • Upon request
Spring St, New York, NY, USA

5,000 sf,    6th floor, Vacant, Some Work, Office space, Full floor, hardwood floors, full columns, access private penthouse and […]

  • 5000 sf
  • Upon request
  • Office Space
Details

SoHo

7 months ago
  • Upon request
Office Space Manhattan NYC

West Broadway, New York, NY, Prince Streets, Class B Office Building

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

2,650 sf,    5th floor, Vacant, Office space, Built space. Modern installation. Hardwood floors. Central A/C.

  • 2650 sf
  • Upon request
  • Commercial Loft Space, Office Space
Details

SoHo

7 months ago
  • Upon request
Office Space Manhattan NYC

Broome St, New York, NY, Lafayette, Residential Building

  • Upon request
Broome St, New York, NY, USA

1,800 sf,    7th floor, Vacant, As Is condition, Office space, Kitchen, storage w/ loft, wood paneling, skylights, 15′ tin […]

  • 1800 sf
  • Upon request
  • Commercial Loft Space, Office Space
Details

SoHo

7 months ago

SoHo Office Space market

SoHo Office Space – Known as a most historic district, SoHo offers a perfect location, old buildings, and shopping paradise. It is a very popular district of Midtown South in Manhattan, New York City. SoHo is home  a lot of high tech, innovative fortunate companies.  They are giving the neighborhood its status as part of New York’s Silicon Valley.  It is also home for fortunate startups like Percolate, Warby Parker, Contently, Foursquare and medical  Zocdoc.

Now it is one of the areas with a high numbers of offices for different size companies and coworking workspaces for tenants. It is known as a very costly location  in Manhattan. Soho has huge amount of cast-iron buildings, a lot of famous recognisable facades. Big industrial windows are delivering tons of sunlight in these well known historic blocks.

SoHo Office Space for lease

Providing creative office space to rent and perfect central location, SoHo has become a symbol of a luxurious lifestyle. The spacious interior of the cast-iron buildings is an excellent home to work in as startup communities from almost all kinds of businesses. While SoHo is mostly known as shopping and restaurant area with endless possibilities, it is also attractive for tech companies.

It is home to the popular internet news site and discussion forum Reddit. Financial corporations like Wells Fargo Bank, Wilmington Trust, Raven Capital Management and Western Union have chosen SoHo to their home.
How all this is reflected in the market for office spaces for rent or lease?

Demand and prices for office space for rent in SoHo

Because of its attractive reputation and perfect location, it wouldn’t be surprised that SoHo is the top destination for office space to rent with one of the highest prices in Manhattan. Depending on the class type A, B and C the overall market in the

SoHo office space asking rent price: between $88 and $66 per square foot.

The inventory is: around 5 million square feet, but as the area is much demanded, the percentage of vacancy is below 9.5%, which is a little less the Manhattan average vacancy rate of 10.5% in 2020.

The difference of these prices is minimal, if  you check  the available commercial property databases, you will find out  that Soho office space lease rates are a little higher than the average prices for New York. The requirement for office inventory for rent will be developing while giving a lot of different options.

Transportation in SoHo

SoHo is prime location in NYC and it’s providing great entry to public transportation. Thousands of people are coming each day to SoHo – tourists, freelancers, and business owners. With its comfortable office spaces to rent, it is a very popular place to work in. The Red, Blue lines, N, R, J, and Z trains pass through the neighborhood, as well as the PATH train, making SoHo easily accessible from Brooklyn, Queens, and nearby suburbs.  local and inter borough  buses,              Bus: M1, SIM1C, SIM4C  have stops in SoHo. People who need to travel for work can take the PATH train to New Jersey.

Eighth Avenue Line Vivid blue "A" train"C" train"E" train

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SoHo Office Space
SoHo Office Space 02
SoHo 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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