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450 Seventh Avenue Office Space, Business Rental Guide

450 Seventh Avenue Office Space, Business Rental Guide

450 Seventh Avenue Office Space450 Seventh Avenue Office Space is an excellent choice for New York City businesses requiring these key features:

•  Ultra-accessible location across from Penn Station

• Clean, secure and well maintained Class B office building

• Efficient office suites for small- and mid- size businesses

• Professional on-site ownership and management

• High density of nearby restaurants, hotels and services

 

LOCATION

450 Seventh Avenue is located at the north west corner of 34th Street across from  Penn Station which has the 1, 2, 3, A, C and E subway lines; crosstown #34 bus; Long Island RailroadNew Jersey Transit and Amtrak. Port Authority Bus Terminal at Eighth Avenue and 42nd Street is a five minute walk away. 

 

Architecture & Office Design  

450 Seventh Avenue Office Space450 Seventh Avenue is a center core office building which means that the elevators, stairs and mechanical systems are in the middle of each floor. The building has an irregular shape which yields a high window-to-floor area ratio. As a result most office spaces enjoy excellent light and views when designed as either open collaborative work environments or with a more traditional layout including perimeter offices

450 Seventh Avenue Office Space450 Seventh Avenue offers both turn-key fully constructed office suites that are ready for immediate occupancy and raw spaces that it will build-to-suit for qualified Tenants. As a rule of thumb, when the Landlord custom-builds an office it will require a 7- 10 year lease term. Recently built suites feature high ceilings (finished or open), upgraded lighting fixtures, glass fronted offices, and contemporary pantries. All offices include a Tenant-controlled air conditioner that can provide cooling on a year-round basis.

Due to sustained strong demand the overall vacancy rate at 450 Seventh Avenue is only 5% as of September 2017. Notwithstanding, because the building has 100’s of Tenants there is a steady stream of offices that become available for lease on a regular basis.  A small sample of suites is shown below.

2,328 RSF

 

 

 

 

 

5,582 RSF Tower Floor, Build to Suit

 

 

 

 

 

 

 

 

 

450 Seventh Avenue Office Pricing 

In 2017 asking rents throughout the building are $62.00 per rentable square foot (PSF). A quick reference table is below. (Note: After negotiation your contract rent will be lower.)

 

  1,500 RSF 3,000 RSF 5,000 RSF
All Spaces @ $62.00 PSF $7,750 per month $93,000 per year $15,500 per month $186,000 per year $25,833 per month $310,000 per year

Additional office overhead costs include sub-metered electricity and annual rent and real estate tax increases.

 

Your Corporate HQ at 450 Seventh Avenue

• Class B Art Deco style office building constructed in 1931.

• Lobby upgrade underway. A renovation of all corridors and bathrooms will be completed soon.

• 520,000 SF total building area. 16,800- 5,582 RSF floors. 46 stories tall and rising 560 feet.

• 24- hour, 7- day access. Uniformed lobby concierge and turn-style access cards for Tenants.

• 13 passenger and two freight elevators

• Tenant controlled air conditioning unit in each suite.

• Fully sprinklered building, emergency lighting and power.

• Telecom providers include Level 3 Communications, Lightpath, Verizon FIOS, TW Cable and Megapath.

• Diverse Tenant mix includes law, accounting, financial services, insurance, technology and fashion

• Onsite stores include Citibank, Walgreen’s, Starbucks and AT&T

• New York, NY 10001

 

The Neighborhood AROUND 450 SEVENTH aVENUE

World famous Macy’s department store is across the street.  For 25 nearby restaurants link HERE. For Trip Advisor’s Top Ten Hotels near Penn Station link HERE.

 

About Cogent Realty Advisors

Cogent Realty Advisors is an independent and licensed NO FEE Realtor with over 15 years of experience representing businesses that lease NYC office space. Our goal is to help you find the right office at the right price. For information, phone Mitchell Waldman at (212) 509-4049.

#450SeventhAveOffice

 

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