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Built Offices for Rent in Midtown Manhattan

Built Offices for Rent in Midtown Manhattan

Office building background in Canary Wharf, LondonBuilt Offices for Rent in Midtown Manhattan can be easily found by working with Cogent Realty Advisors, an experienced no fee Tenant Representation Broker. By using the highest quality commercial office database and a network of professional contacts, we will find the ideal work space for your business.

 

The New York City Office market ended 2014 with a vacancy rate of 7.8% and an average asking rent of $55.91 PSF. This market data is provided by Costar, the Commercial Real Estate Information Company. For comparison, in Q1 2014 the vacancy rate was 8.5% with an asking rent of $54.55. 

Landlord’s have responded to this bull leasing market in a number of ways: 

Interior of a modern office

(1) As one would expect, rents continue to increase and Tenant Incentives (rent abatements) are waning; 

(2) Previously occupied (second generation) office space is quickly renovated and re-listed, rather than being demolished and left waiting for an interested Tenant. The re-purposing of built offices is reducing Landlord costs and expediting its delivery to the rental market; and

(3) Many owners are pre-building currently raw and/or obsolete space with designs that target active industry segments such as technology and financial firms. With this strategy  Landlords are benefiting financially by controlling construction costs and compressing the time it takes to lease vacancies.    

Midtown Manhattan is a large area that is divided into seven distinct sub-markets. Within this area there are 1,571 buildings with 318,354,006 rentable square feet of office space. The built offices shown below are a minute representation of currently available spaces. 

COLUMBUS CIRCLE

West 57th Street Renovated Office 5,817 RSF, aks $60

West 57th Street
Class B
Renovated Office
5,817 RSF, asks $60

 

 

 

 

 

 

 

 

 

PLAZA 

Avenue of the Americas Class A Building Renovated Offices 7,942 RSF, asks $62

Avenue of the Americas
Class A
Renovated Office
7,942 RSF, asks $62

 

 

 

 

 

 

 

 

 

 

 

 

 GRAND CENTRAL

East 42nd Street Class A Building Renovated 6,596 RSF, asks $55

East 42nd Street
Class A
Renovated Office
6,596 RSF, asks $55

 

 

 

 

 

 

 

 

TIMES SQUARE

West 45th Street Class  New Office 4,220 RSF, asks $65

West 45th Street
Class A
New Office
4,220 RSF, asks $65

 

 

 

 

 

 

 

 

 

 

 

UNITED NATIONS

East 47th Street Class Ading Renovated w/Furniture 9,000 RSF, asks $60

East 47th Street
Class A
Renovated w/Furniture
9,000 RSF, asks $60

 

 

 

 

 

 

 

 

 MURRAY HILL

Lexington Avenue Class B Renovated Office 5,707 RSF, asks $50

Lexington Avenue
Class B
Renovated Office
5,707 RSF, asks $50

 

 

 

 

 

 

 

 

 

 

 

 PENN STATION & FASHION DISTRICT 

Empire State Building Class A Landmark New Office 3,805 RSF, Call $

Empire State Building
Class A Landmark
New Office
3,805 RSF, Call $

 

 

 

 

 

 

 

 

Seventh Avenue Class B  Renovated Office 3,524 RSF, asks $53

Seventh Avenue
Class B
Renovated Office
3,524 RSF, asks $53

 

 

 

 

 

 

 

 

Strategy for Leasing Built Offices in Manhattan

Contact Cogent Realty Advisors for an immediate consultation about  your office requirements.

Phone (212) 509-4049.

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