5,100 – 10,000 sf, Hi floor, Vacant, move in condition, Office space, Excellent light. Fully wired for voice and data. […]
Downtown Manhattan, Tribeca
Tribeca Office Space
Tribeca Office Space – Tribeca, originally written as TriBeCa, is a neighborhood in Lower Manhattan, New York City. Its name is a syllabic abbreviation 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-style.
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%.
If you compare these prices to the publicly available commercial real estate leasing data, you will see that Tribeca office space lease rates are close to the average price for New York. The demand for office spaces for rent is likely to continue growing while still offering limited choices.
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 access to the 1,2,3 subway to the east and Hudson River Park to the West, Tribeca has a lot of things going in its favor to make it a top-notch destination for hip technology and media companies seeking hip and industrial office space for lease.
|Broadway–Seventh Avenue Line||Tomato red|||