38 West 39th Street

New York, NY 10018

212-581-3003

24/7 Customer Support

Mon - Fri: 24/7

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Union Square Office Space

  • Upon request
E 17th St, Union Sq West, Class B Office space 3,000-5,000 sf

E 17th St, Union Sq West, Class B Office space 3,000-5,000 sf

  • Upon request
E 17th St, New York, NY, USA

3,000 – 5000 – 7500 sf, Hi  floor, Vacant, Office space, North & South exposures. Private restroom with shower. Pantry with […]

  • 3000 - 5000 Sq Ft
  • Upon request
  • Office Space
Details

Union Square

2 months ago
  • Upon request
Broadway, NYC, Union Sq. Class B Office space 7500 sf

Broadway, NYC, Union Sq. Class B Office space 7500 sf

  • Upon request
Broadway, New York, NY, USA

Broadway, NYC, Union Sq. Class B Office space 7500 sf 7500 – 14,000 sf,  Hi floor, As Is condition, Office […]

  • 7500 - 14,000 Sq Ft
  • Upon request
  • Commercial Loft Space, Office Space
Details

Midtown South, Union Square

3 months ago
  • Upon request
Office Space Manhattan NYC

E 17th St, Manhattan, New York, NY, Union Sq West, Class B Office Building

  • Upon request
E 17th St, New York, NY, USA

3,000 sf,   3rd floor, Vacant, Office space, North & South exposures. Private restroom with shower. Pantry with sink. 13′ […]

  • 3000 sf
  • Upon request
  • Office Space
Details

Union Square

4 months ago
  • Upon request
Office Space Manhattan NYC

Union Sq E, Manhattan, New York, NY, East 15th Street, B Building

  • Upon request
Union Square E, New York, NY 10003, USA

2,800 sf,   3rd floor, Lease term 2-10 yrs, Vacant, Some Work, Office space, Historic building overlooking Union Square Park. […]

  • Office Space
Details

Union Square

4 months ago
  • Upon request
Office Space Manhattan NYC

Union Sq W, Manhattan, New York, NY, 17th Street, Class B Office Building

  • Upon request
Union Square W, New York, NY 10003, USA

3,700 sf,   4th floor, Lease term 4-10 yrs, Possession Arranged, Office/Medical Space.

  • 3700 sf
  • Upon request
  • Office Space
Details

Union Square

4 months ago

Union Square Office Space

Union Square Office Space – Union Square is a charming history area, mostly popular with its historic parks. Known as a historic intersection and surrounding district in Manhattan, New York City, located where Broadway and the former Bowery Road – now Fourth Avenue – came together in the early 19th century. It has a perfect central location – in the center of Midtown South. One of the best features of the Union Square neighborhood is the eponymous Union Square Park.

Now it is one of the areas with a high concentration of tech and media companies in New York while continuing to be a living and business district. Popular businesses have chosen Union Square office space for lease. It is home to huge corporations like Facebook and Buzzfeed while at the same time because its excellent central location in the heart of Manhattan is an attractive place for small businesses.

Union Square Office Space for lease

Providing creative office space to rent and perfect central location, Union Square is a preferred place for many businesses. Most of them are located in renovated buildings with a bright and spacious interior. The transformation has changed many of those buildings with creative office areas and business buildings to lease space. The area is home to many iconic buildings – Zeckendorf Towers, One Union Square South, and the Union Building to name a few. They are attracting mostly tech companies looking for creative office space to rent, combining with great restaurants and dining in the area.
How all this is reflected in the market for office spaces for rent or lease?

Demand and prices for office space for rent in Union Square

Depending on the class type A or B, the overall market in the Union Square asks between $80 and $70 per square foot. Union Square is a great ratio of price and location because the prices in class A buildings are still significantly lower than the Midtown South Class A average of $80 per square foot. The amount of space to rent or lease is close to 30 million square feet, but as the area is much demanded, the percentage of vacancy is already below 8%, which is over the Manhattan average of 10%.

If you compare these prices to the publicly available commercial real estate leasing data, you will see that Union Square office 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 plenty of choices.

Transportation in Union Square

Thousands of people are coming each day in Union Square – tourists, students, and business professionals. Because of the perfect central location (in the center of Midtown South), it is a popular place to work in. The public transportation is very convenient to serve all these people – subway, bus or train. The 14th Street – Union Square subway station, which is NYC’s third-largest transportation hub, is in Union Square. It is served by the 4, 5, 6, L, N, R, and Q trains. Seven bus lines serve Union Square: the M1, M2, M3, M7, M9, and M14. Locals and visitors can also utilize the PATH train at 6th Avenue.

Broadway Line Sunflower yellow "N" train"Q" train"R" train"W" train
Lexington Avenue Line Apple green "4" train"5" train"6" train"6" express train

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Union Square Office Space
Union Square Office Space 02
Union Square Office Space 03

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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