Offices & Lofts Near Union Square
This report on offices & lofts Near Union Square was compiled in late August 2015. Availability and pricing can change daily. Contact Cogent Realty Advisors for updated information: (212) 509-4049. Cogent Realty Advisors is a NO FEE Tenant Representation Broker.
Commercial space near Union Square is expensive as a result of the sustained demand by creative businesses. As defined by Costar, the commercial real estate information company, Union Square is situated within the Gramercy Park office sub-market. Costar, reports that at the end of the second quarter of 2015 the average asking rent in this area was $67.64 per rentable square foot (PSF) and vacancies stood at 6.1%. Portions of Chelsea are often included in a “Union Square Area” office search. Average rents in Chelsea stood at $60.66 PSF with a vacancy rate of 4.4%.
Sample Union Square Area Office and Loft Space
15th Street and Fifth Avenue: Dramatic 5,405 RSF private floor with 14 foot ceilings and panoramic views. Trophy building. The Landlord will build to suit or provide a Tenant Incentive Package*. Asks $87.00 PSF.
*Tenant Incentive Package: A cash contribution and (or) free rent provided by a Landlord to facilitate a Tenant’s construction of its office premises. Tenant Incentive Packages are negotiable and dependent upon many factors including competitive market practices, the condition of the space, the lease term and creditworthiness of the Tenant.
19th Street and Broadway: Two- (2) 5,500 RSF floors. Good light and high ceilings. Tenant controlled AC. FIOS. Tenant Incentive Package offered. Asks $62.00 PSF.
21st Street and Broadway: Multiple 5,500 RSF full floors available with excellent light and views. Building has just completed major upgrades. Landlord will build to suit (test fit shown) or provide a Tenant Incentive Package. Asks $76- 83.00 PSF.
21st Street and Fifth Avenue: 5,274 RSF private floor. Classic loft with hardwood floors and large windows. Tenant controlled AC. Landlord will renovate or provide a Tenant Incentive Package. Asking $62.00 PSF.
21st Street and Park Avenue South: Renovated 5,816 RSF loft with concrete floors, 13 ft. ceilings and glass fronted offices. Limited Tenant Incentive Package. Asks $75.00 PSF.
22nd Street and Fifth Avenue: 2,200 RSF and 3,250 RSF historic lofts with hardwood floors, brick walls and tin ceilings. Lofts can be combined. Tenant controlled AC. Delivered “as is”. Asks $70.00 PSF.
For your specific loft and office requirement call:Mitchell Waldman Licensed NY State Real Estate Broker 212-509-4049