77 West 55th Street

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 – nowadays Fourth Avenue – came together in the early 1800”s. It has a perfect central location – in the center of Midtown South. One of the best attributes of the Union Square neighborhood is the famed Union Square Park (according by Wikipedia) .

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 companies. Most of them are located in restored structures with a brilliant and also sizable inside. 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 – 853 Broadway, 873 Broadway, 200 Park Ave S, 1 Union Sq W, 841 Broadway, 44 Union Square East and 19 Union Square West 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 much less than the Midtown S. 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 10.5%.

The difference of these prices is minimal, if you check the available commercial property databases, you will find out that Union Square office space lease rates are very similar to the average prices for New York. The requirement for office inventory for rent will developing while giving a lot of different options.

Transportation in Union Square

Union Square train station, NYC’s one of the biggest transportation center hub, is in Union Square. It is served by the 4, 5, 6, L, N, R, and Q trains. These buses service Union 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. At 14th St. Square: the M1, M2, M3, M7, M9, M14. Commuters can use the PATH train on Sixth Ave.