14 Penn Plaza Office Rental Guide
• Highly accessible location across from Penn Station
• Handsome, secure and well maintained Class B office building
• Efficient office suites for small- and mid- size businesses
• Professional ownership and management
• High density of nearby restaurants, hotels and services
14 Penn Plaza LOCATION
14 Penn Plaza is located at 225 West 34th Street between 7th and 8th Avenues. It is across the street from Penn Station which has the 1, 2, 3, A, C and E subway lines; crosstown #34 bus; Long Island Railroad, New Jersey Transit and Amtrak. Port Authority Bus Terminal at Eighth Avenue and 42nd Street is a five minute walk away.
14 Penn Plaza Office Building & Design
14 Penn Plaza is a side core office building which means that the elevators, stairs and mechanical systems are located one side of the building. The building is shaped like and inverted “T” and has windows on all eight of its sides. As a result the offices have very good light and city views whether they are designed as open work environments or with perimeter offices. Floors in the base of the building are approximately 25,398 SF and taper at the top.
14 Penn Plaza offers both turn-key fully constructed office suites that are ready for immediate occupancy and vacant spaces that it will build-to-suit for qualified Tenants. As a rule of thumb, when an office is custom-built, a 7- 10 year lease term is required. Recently built suites feature high ceilings (finished or open), upgraded lighting fixtures, glass fronted offices and conference room, and contemporary pantries with stainless steel appliance.
Because 14 Penn Plaza has many Tenants, there is a steady stream of offices that become available for lease on a regular basis. Many Tenants begin by renting a small start-up space at the 9th floor Virgo Business Center and grow into a larger office over time.
Office Pricing @ 14 Penn Plaza
In 2017 asking rents for offices in the building range from $54.00- $63.00 per rentable square foot (PSF). Newly constructed offices and those on the highest floors may be more expensive.
Note: Cogent Realty has a strong track record negotiating lower lease prices and incentives in the form of free rent for its clients. Call us for details.
A quick reference guide is found below.
|2,000 RSF||3,500 RSF||5,000 RSF|
|Lower Floor @ $54.00 PSF||$9,000 month $108,000 year||$15,750 month $189,000 year||$22,500 month $270,000 year|
|High Floor @ $63.00 PSF||$10,500 month $126,000 year||$18,375 month $220,500 year||$26,250 month $315,000 year|
Additional office overhead costs include electricity, annual rent and real estate tax increases.
Your Corporate HQ at 14 Penn Plaza
• Class B Art Deco style office building constructed in 1925 and completely modernized.
• 24- hour, 7- day access. Uniformed lobby concierge. Access card security system.
• 558,766 SF total building area. 22 stories tall and rising 274 feet.
• 8 passenger and four freight elevators.
• Tenant-controlled air conditioning in each office suite. Office cleaning is included.
• Sprinkler system, emergency lighting and power.
• Internet/phone providers include: Lightower, Level 3, Time Warner Cable, RCN, Verizon FiOS, MegaPath.
• New York, NY 10122.
The Neighborhood NEAR 14 Penn Plaza
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.