38 West 39th Street

New York, NY 10018

212-581-3003

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Times Square Office Space

7th Ave, 40s Class B Office space for lease

  • $46/psf
7th Ave, New York, NY 10036, USA

2,300 sf,  5,500 sf  Hi floor,  Office space for lease, 3-10 years term,  4 offices, conference room and storage.

  • 2300 - 5500 Sq Ft
  • $46/psf
  • Office Space
Details

Midtown Manhattan, Time Square

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

W 46th St, New York, NY, 6th Ave, Time Square office space for lease

  • Upon request
W 46th St, New York, NY 10036, USA

5,000 sf,    6th floor, Vacant, Office space, Includes 1,000 SF Penthouse with private roof deck.Connected to Penthouse by spiral […]

  • Office Space
Details

Time Square

4 months ago
  • Upon request
Office Space Manhattan NYC

W 46th St, NY, NY, 6th Ave, Class B Office Building

  • Upon request
W 46th St, New York, NY 10036, USA

2,200 sf,    2nd floor, Vacant, As Is condition, Office or Retail space, 50` frontage. All uses considered. Any retail […]

  • 2200 sf
  • Upon request
  • Office Space, Retail Space
Details

Time Square

4 months ago

Seventh Ave, NY, NY, 45th St, Class A Office Building

  • Upon request
7th Ave, New York, NY, USA

2,500 sf,    11th floor, Vacant, As Is condition, Office space, 3 windowed offices. Large interior conference room. File/storage. Interior […]

  • 2500 sf
  • Upon request
  • Office Space
Details

Midtown Manhattan, Time Square

4 months ago
  • Upon request
Office Space Manhattan NYC

Seventh Ave, NY, NY, 44th St, Class A Office Building

  • Upon request
7th Ave, New York, NY, USA

Seventh Ave, NY, NY, 44th St, Class A Office Building 4,250 sf,    26th floor, Vacant, As Is condition, Office […]

  • 4250 sf
  • Upon request
  • Office Space
Details

Midtown Manhattan, Time Square

4 months ago

Times Square Office Space

Times Square Office Space – Another signature place in Manhattan, New York is Times Square, whose history lies deep in the roots of modern history. Once called Longacre Square, the now-iconic square has seen very different levels of its reputation. Barely someone remembers that it was not until the mid-90s, when the place started to be a desirable location. Previously it was facing high rates of crime and violence, until it was decided by then-mayor Rudolph Giuliani that it deserves better. Existing theatres started to be re-developed into modern ones until the place become how many people know it today.
Times Square is now a major attraction due to its concentration of commercial and entertainment shops and a major point of interest for tourists due to its recent fame. In the property business, Times Square designates not only the famous square itself, but a broader area in Midtown Manhattan – bordering on the South  –  W 42nd Street, on the North –  W50th Street, on the East – Sixth Ave., and on the West – Eighth Avenue.

Office Space for lease in Times Square, NYC

On some days it can be that half a million people pass by the area! You can imagine the attraction potential of the area.
Given the high rate of pedestrian traffic, you can expect this to be utilized by many companies in the entertainment sector. Notable investment banks and publishing houses have their presence in the area. Of course, it can be a matter if public prestige to have your offices being in that area.
The landscape is characterized by skyscrapers followed by historical buildings, which now house theatres, museums and hotels.
How all this is reflected in the market for office spaces for rent or lease?

Demand and prices for office space for rent on Times Square ?

As we said, Manhattan is attracting a lot of new tenants every year and the demand for retail and office space is continuing to grow year-over-year so you could expect it reflected on the prices. The vacancy rate for office space in Times Square is a little less from that of the whole

Manhattan –10.5% for the whole Manhattan in Q4 2019 versus 7% to 8% for Times Square (depending on which part you are looking at).
With an inventory of almost 25% of the office space in Midtown, Times Square is not to be overlooked.

The everage market on Times Square asking rent is $88 per square feet for Class A office rent, and between $56 and $66 for Class B office rent.

While average prices in Midtown Manhattan are $96 for Class A and $74 psf for Class B office space, Times Square is a good alternative, if your budget does not allow you to pay premium prices. From the available office space, almost 2/3 can be sublet, so this is a good opportunity for companies, not requiring big office spaces, but rather looking for a convenient location.

If your business depends on high bandwidth internet speed, you have to be carefully choosing as not all buildings can offer it due to their age.

Transportation around Times Square

Times Square sits in the hearts of Midtown Manhattan and it is well connected with other parts of the city. Subway lines B, D, E and F can swiftly let you travel whenever you want. Public bus lines are also available – lines M1, M2, M3 and M4 go all along the neighboring 5th Avenue.
You can also cycle and walk by foot if you are in the vicinity as there are many pedestrian walk areas here.

  • on the southeast corner of Seventh Avenue and 42nd Street for "1" train"2" train"3" train"7" train"7" express train​​"N" train"Q" train"R" train"W" train   trains
  • inside north wing of bus terminal at Eighth Avenue between 41st Street and 42nd Street,  "A" train"C" train"E" train  trains
Times Square Office Space
Times Square Office Space 0
Times Square Office Space 2020

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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