3,000 – 5000 – 7500 sf, Hi floor, Vacant, Office space, North & South exposures. Private restroom with shower. Pantry with […]
Broadway, NYC, Union Sq. Class B Office space 7500 sf 7500 – 14,000 sf, Hi floor, As Is condition, Office […]
Midtown South, Union Square
3,000 sf, 3rd floor, Vacant, Office space, North & South exposures. Private restroom with shower. Pantry with sink. 13′ […]
2,800 sf, 3rd floor, Lease term 2-10 yrs, Vacant, Some Work, Office space, Historic building overlooking Union Square Park. […]
3,700 sf, 4th floor, Lease term 4-10 yrs, Possession Arranged, Office/Medical Space.
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.
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?
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.
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.
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