White St, NYC, Tribeca, Commercial loft space for lease 5,000 sf, New to the market; Entire Full Floor, Completely renovated […]
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Downtown Manhattan, Tribeca
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City Hall, Tribeca
Tribeca Office Space
Tribeca Office Space – Tribeca, originally was written as TriBeCa, is a neighborhood in Lower part of Manhattan, NYC. Its name is a short version of “Triangle Below Canal Street”. Tribeca has gained a reputation as a trendy district in downtown Manhattan and of the best place to live in New York City. It is also popular as a home to the film festival “Tribeca”. This colorful neighborhood in NYC is full of interesting industrial and historic buildings, now renovated as a beautiful and artistic office space. Because of this, it is home to many artistic and small businesses.
Overall Tribeca is offering a very small office space to lease – just a little over 10 million square feet of office space available in its inventory. Tribeca is also a highly sought after office market, and one of Manhattan’s most high-profile locations. The common office space for rent here is mostly located in old industrial buildings – spacious and bright interior in loft type space.
The transformation has changed many of those buildings as a mix of studios to live in and creative office space for businesses to lease. Providing creative office space to rent and perfect central location, Tribeca is a highly demanded place for many businesses.
How all this is reflected in the market for office spaces for rent or lease?
Depending on the class type A or B, the overall market in Tribeca asks between $75 and $65 per square foot. Because the amount of space to rent or lease is very limited, but as the area is much demanded, the percentage of average vacancy is already around 5% – some of the lowest in Manhattan and below the Manhattan average of 10%.
The difference of these prices is minimal, if you check the available commercial property databases, you will find out that Tribeca office space lease rates are very similar to the average prices for New York. The requirement for Tribeca office inventory for rent will developing while giving a lot of different options.
Thousands of people are coming each day in Tribeca – the beautiful parks are attracting many tourists, students, and workers. It is a perfectly located neighborhood, very easily accessible by public transport. With convenient entry to the 1,2,3 trains to the east and Hudson River Park to the West, Tribeca has a lot to offer, entering into its way to make it a pinnacle-notch arrival for hip technology and media agencies looking for hip and commercial loft office to rent.
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