38 West 39th Street

New York, NY 10018

212-581-3003

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SoHo Office Space

  • 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

4 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

4 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

4 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

4 months ago

SoHo Office Space

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’s numerous popular office spaces and the enviable list of tenants within have earned the neighborhood its place as part of New York’s Silicon Alley – home to successful startups like eyewear emporium Warby Parker and medical scheduling service Zocdoc. Now it is one of the areas with a high concentration of offices for small businesses and shared workspaces for individuals (freelancers) or teams. It is known as one of the most expensive places in Manhattan. Also popular with the world’s largest collection of cast-iron buildings – many of which have memorable facades and fire escapes. Large warehouse windows are providing a lot of natural light in these historic buildings.

Office Space for lease in SoHo

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 asks between $85 and $65 per square foot. The amount of space to rent or lease is close to only 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% in 2020. If you compare these prices to the publicly available commercial real estate leasing data, you will see that SoHo office lease rates are far above the average price for New York. The demand for office spaces for rent is likely to continue growing while still offering limited vacancy to rent.

Transportation in SoHo

SoHo’s prime location in Manhattan is providing excellent access to public transportation. Thousands of people are coming each day in Union Square – tourists, freelancers, and business owners. With its comfortable office spaces to rent, it is a very popular place to work in. The 1, 6, A, C, E, 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. Additionally, many regional buses such as MegaBus and Boltbus have stops along 6th Avenue. Employees who need to travel for work can take the PATH train to Newark or the A train to John F. Kennedy (JFK) Airport.

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, New York, NY 10001, Office Medical space for lease 1400-2800 square feet

  • 2800 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

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft – office – retail for lease.

  • 3000 - 10,000 Sq Ft
  • Upon request
  • Commercial Loft Space

Chelsea West 25th Street NY NY Class A Office space for lease

  • 4000 Sq Ft
  • Upon request
  • Gallery Space, Office Space
Featured

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