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Grand Central Office Rental Guide- 2018

 

Grand Central Office Rental Guide- 2018

Grand Central Office Rental Guide- 2018 provides essential information for Tenants that are interested in relocating to NYC’s most popular business district. This information was compiled in May 2018 and is subject to change. For the most current market conditions contact Cogent Realty Advisors, Inc. (212) 509-4049.

 

Grand Central Office Rental Guide- 2018- Building Locations & Market Statistics.

Grand CentralThe Grand Central Office market is the largest in NYC and comprised of 177 building with a combined 56,541,775 square feet of space. At the end of the first quarter of 2018 the average quoted asking rent in Grand Central Station office buildings was $70.26 PSF, excluding sublease space. The vacancy rate was 10.2%. Notwithstanding, the asking rent for modest office space on side streets can be found for as little as $43.00 PSF. Rent in the most exclusive buildings can exceed $135.00 PSF. 

 

Grand Central Office Building Details

In this blog Cogent is examining some of the most popular office building in immediate proximity Grand Central Station. For information about available space and rental rates in any NYC office building contact Cogent Realty Advisors, Inc. (212) 509-4049.

grand central

 

420 Lexington Avenue: Four-Star rating by Costar. 1,501,275 square feet and 30 stories. Typical floor is 50,042 RSF. Built in 1927 and modernized in 1999. Busy building catering to small- and midsize firms with an entrance inside of Grand Central Station and on Lexington Avenue. Tenants include law, accounting, financial services, insurance and technology. Deal Structure: Efficient pre-built office spaces can be leased for 5- 10 years. Asking rent is $58.00- $65.00 PSF. On a 10 year lease term the Landlord will build-to-suit your office and provide an architect for space planning. For more details link HERE

Grand Central

1,344 RSF

Grand Central

3,409 RSF

grand central

4,854 RSF

 

405 Lexington Avenue: Four-Star rating. 1,292,002 square feet and 77 stories. Typical floor is 32,000 RSF. Historic US Landmark built in 1929, completely modernized and designated LEED Certified Gold. Tenants are mostly boutique financial and law firms.  Deal Structure: Pre-built space can be leased for 5- 10 years. On a 10 year lease term the Landlord will build-to-suit your office and provide an architect for space planning.  Asking rent is from $61.00-79.00 PSF depending on the location within the building. For more details link HERE.

Grand Central

2,184 RSF

Grand Central

4,451 RSF

grand central

10,256 RSF

 

122 East 42nd Street: Four-Star rating. 862,081 square feet and 26 stories.  Busy building with entrances on 42nd Street, Lexington Avenue and 41st Street. Access to Grand Central through a passageway. The Chanin building offers a nice selection of quick service restaurants on its ground floor. Small- and medium- size firms from all industries are found here. Deal Structure: Pre-built new or previously occupied offices can be leased for 5- 10 years. Asking rent is from $51.00- 70.00 PSF depending on the location within the building. For more details link HERE.

grand central

1,987 RSF

grand central

2,790 RSF

grand central

4,785 RSF

 

110 East 42nd Street: Three-Star rating. 293,878 square feet and 18 stories. Typical floor is 18,000 RSF. Built in 1921 and modernized. Occupied by professional firms from diverse industries. Pre-built new or previously occupied offices can be leased for 5- 10 years. On a 10 year lease term the Landlord will build-to-suit your office and provide an architect for space planning.  Asking rent is $60.00- 65.00 PSF depending on the location within the building.

grand central

1,502 RSF

grand central

4,249 RSF

grand central

9,706 RSF

 

60 East 42nd Street: Four-Star rating. 1,315,216 square feet and 55 stories. Floors range from 23,913 RSF. Direct access to Grand Central by a passageway. In-building services include a visitor center, tenants-only conference center, dining options: Deal Structure: Newly constructed high-end contemporary space can be leased for 5- 10 years. On a 10 year lease term the Landlord will build-to-suit your office and provide an architect for space planning.  Asking rent is from $58.00-70.00 PSF depending on the location within the building. For more details link HERE.

grand central

2,230 RSF

grand central

3,136 rsf

grand central

12,566 RSF

 

 

grand central

Photo courtesy CoStar

One Vanderbilt: Five Star rating. 1,732,955 square feet and 67 stories. Typical floor 23,880 RSF. Now being constructed with completion in September 2020. Tenants to include DZ Bank, Greenburg Traurig LLP, McDermott, Will & Emery, a Daniel Boulud restaurant and observatory. For information contact Cogent Realty Advisors, Inc. (212) 509-4049.

 

 

 

200 Park Avenue: Five-Star rating. 3,143,291 square feet and 58 stories. Typical floor is 47,505 RSF. Constructed in 1963 and modernized in 2009. Deal Structure: On a 10- 15 year lease term the Landlord will build-to-suit your office and provide an architect for space planning. As an alternative the Landlord will provide a cash contribution for the Tenant-managed construction of its own office. Asking rents: Call for information (212) 509-4049.

44,158 RSF

 

 

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.

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