Upper East Side Office Space

Upper East Side Office Space  – A neighborhood, which is known mostly because of its residents – Upper East Side – or shortly UES – has a lot to offer.
Its border areas are always debatable, but in general, its borders are East 96th Street in the north, Central Park on the west, East 59th Street on the south and the banks of East River on the east. It consists of two smaller neighborhoods – Yorkville and Lenox Hill. Upper is not only its position on the map of Manhattan but also most of its residents.

It houses the apartments and mansions of the upper class of New York – some of the wealthiest and rich persons in the world. You can surely consider it one of the most expensive areas in New York – full of a high class residential building, designer boutiques, private banks and medical institutions. Madison Avenue – a place for luxury goods and premium brands – is also located here.
It is largely considered a residential area but there are opportunities for office space rent as well.

Upper East Side Office Space for lease

As it houses the wealthiest population of New York, UES offers what is needed by those inhabitants.
Just a short walk and you are in Midtown Manhattan. Several countries have their embassies and/or consulates in UES. Several medical schools have their campuses established in UES. Private schools are easy to find as well. Businesses linked with a university education, healthcare, securities, international relations are likely to find their creative space in UES – close to their clients. Large block office space rents are not common in UES, so you can expect the office space supply to be oriented towards small and medium-sized spaces. How all this is reflected in the market for office spaces for rent or lease?

Demand and prices for Upper East Side office space for rent

As we said, Manhattan is attracting a lot of new tenants every year and the demand for retail and office space is continuing to grow year-over-year so you could expect it reflected on the prices.
The overall market on Upper East Side asks around $95 per square feet for Class A office rent and around $75 for Class B office rent.       You can count on a 10% vacancy of the 21 million square feet office space available.

While average prices in Midtown Manhattan are $96 for Class A and $74 for Class B office space, Upper East Side office space is a good alternative, if your office needs are not huge and you need to be close to your customers. If your business depends on high bandwidth internet speed, you have to be carefully choosing as not all buildings can offer it due to their age.

Transportation around Upper East Side

Upper East Side sits in the hearts of Midtown Manhattan and it is well connected with other parts of the city and the suburbs. You might be surprised, but the average number of owned cars per household for UES inhabitants is close to zero. That speaks a lot for the excellent functioning of public transport, excellent pedestrian- and bike-friendly routes and the vicinity of transportation hubs as Grand Central Station. Bus lines going uptown and downtown service the area:  M1, M2, M3, M4, M15.  Crosstown buses: M66, M72, M79 M86, M96.

Trains:

Lexington Avenue Line

Apple green

​​

.

MANHATTAN OFFICE SPACE MARKET INFORMATION