It’s often said that your office is your second home. It’s where you go in the morning and where you leave at the end of the day. And for someone looking to find a great commercial office space in Manhattan, you first need to select the neighborhood that will become your second home, and then can you find the space you’ll be comfortable in, just like a home.
Midtown Manhattan, Midtown South and Downtown
These are the three major commercial real estate markets in New York City. And it should come as no surprise that New York is a city of variables and that within each major office space market is a sub-market, possessing its own distinct business identity and attitude. Each block is a new experience. No two alike. So before you decide where you want to make your new home, keep in mind the essential attributes of each one. Your Metro Manhattan leasing agent will ask what your needs are. What are you dreaming about? What do you think? Then, he’ll advise you where the best Manhattan commercial real estate opportunities are, the access to public transportation, pricing and affordability, amenities and extras, neighborhood trends and new developments. There’s much to consider when finding a new home. Now let Metro Manhattan lead the way….
With over 45-million sq. ft. of office space for sale or rent, Midtown Manhattan is the largest commercial real estate district of Manhattan. With its strategic location in the heart of everything, and its easy access to every public transportation hub in the city Midtown Manhattan the A-Number One Prime office space location for New York City office space.
Abundance of Small Office Rentals Near Grand Central
Class A Midtown buildings such as The Graybar Building, 1 Grand Central Place and The Chrysler Building usually have wide inventory of office space rentals for small businesses and professional practices. Vacant offices between 1,000-5,000 square feet are often completely rebuilt before they are marketed, so you get a brand new office when you sign a lease!
White Glove Class A Office Space for Lease in The Plaza District
The Plaza District is located north of 48th Street on the East Side of Manhattan. In this neighborhood, you will find luxurious Class A skyscrapers such as the IBM and General Motors Building. Along Fifth, Park and Lexington Avenues, major law firms, public corporations, financial services firms pay top dollar for top of the line office space that often exceeds $100.00 per sq. ft. More affordable Class B buildings can be found on the side streets and along 57th St. where elite retail stores abound.
Budget Office, Loft and Showroom Rentals in The Fashion & Accessory District
Some of the most affordable office space, loft and showroom spaces for rent or lease are in the Garment District, also known as the Fashion District and the Accessory District. Asking rents start at about $33.00 per sq. ft. for Class C side street properties. As you move north into Times Square and beyond, the prices go up.
Midtown South: Hip Space for Creative Creatures, Techies and Start-Ups. Is this where you belong?
Midtown South spans Manhattan Island from North Canal Street to South of Murray Hill to The Garment District and below. This huge area offers the largest inventory of former factory and loft buildings in Manhattan. They have been retrofitted and made into commercial office rentals with large rooms and huge windows. If Midtown South is your choice, Metro-Manhattan Office Space brokers will take you to Chelsea, Union Square and The Flatiron District that are among the best known and most loved neighborhoods in Midtown South. Your broker is especially connected in this part of town and will find and negotiate the best deal for you!
Class B and Class C office buildings dominate the area. They attract creative-type firms such as advertising agencies, public relations firms and architects seeking to rent commercial lofts or open plan office space where they can spread out. The Flatiron Building and The Starrett Lehigh Building are among the best-known commercial properties in this part of the town in commercial real estate market. Say Hello! To Martha Stewart for us after you move in.
Get a Deal on Commercial Loft Space Chelsea, in midtown south, has lots of office- and retail space to offer. Chelsea is known for its art galleries and casual lifestyle but it’s also for its competitive office space deals. Base rents in Class C loft buildings may come in as low as $35.00 per sq. ft. Yip, that’s nothing to turn your back on with numbers like these.
Downtown Manhattan: Best Value For Class A Office Rentals
Come on Down: Rent Space in the Surging Commercial Real Estate Market of Downtown! Lower Manhattan’s commercial real estate market is in transition. Many office buildings have been converted to residential condominiums while stores like Hermes, Tiffany, BMW and other luxury goods stores have planted their footprint in Downtown Manhattan.
Before 9/11, financial services firms mostly leased space in Lower Manhattan. Since then, competitive rents and government incentive programs have attracted a variety of office use industries, such as marketing, creative and non-profit companies. Conde Nast, publishers of Vogue, Vanity Fair, W and others, are eschewing the Times Square area and are headed to the new One World Trade Center. Others are following in droves.
Here is an opportunity to lease an office space in Downtown Manhattan in a Class A property for half the rent you would pay for a similar property in Times Square or The Plaza District. In addition, such real estate incentives as the Community Renewal Program (CRP) and the Relocation Incentive Program (REAP) that apply to Lower Manhattan can further reduce your net effective rent. Take our advice: ACT NOW while the pickings are still good!
Find Affordable Manhattan Office Space in Lower Manhattan
Wall Street, the World Trade Center, Tribeca and City Hall all offer competitive office space for rent or lease (longer term) as competition is keen for Class A and Class B properties only found downtown. An example of these buildings are the Woolworth Building, the Equitable Building and One Liberty Plaza, which are some of the best-known commercial office buildings in this city.
Lower Manhattan Commercial Real Estate Incentive Programs
In addition to affordable rents and first-rate public transportation, Lower Manhattan tenants benefit from government incentive programs that reduce the cost of commercial rents and cut energy costs. The Commercial Revitalization Program (CRP), the Lower Manhattan Relocation Program (LMREAP) and the Lower Manhattan Energy Program (LMEP) all reduce the cost of leasing Lower Manhattan office or retail space. These programs are very valuable to business tenants and you can save a considerable amount in rent over the term of your lease.
Strong Relationships with Commercial Landlords
Metro Manhattan Office Space enjoys a strong relationships with key landlords, property managers and commercial real estate leasing agents in this area, and, as a result, we know about off market office, loft and retail space sometimes before it becomes available.
Let Us Find Your New Home Away from Home:
Office Space, Commercial Loft Space, Showroom property and Retail Space, your one real estate source for New York City Over the last year, Midtown Manhattan Office Space (212-447-5403) has leased over 47 commercial loft and office spaces in the to businesses of every kind. No one knows this city better than we do and we are always here, ready to help you make one of the most complex and expensive decisions of your career.