|Address:||450 West 15th Street||Class:||B|
|Cross Streets:||15th & 16th Streets||Size:||306,000 SF|
The creative office building at 450 West 15th Street in Midtown South was originally built as a warehouse in 1936. It was converted to a fashion, arts and entertainment center, complete with flexible, creative office space, in the 1970s. The Meatpacking District property has housed Milk Studios for many years, and it was purchased by Google in 2019 for close to $600 million. The building, previously known as the New Media & Art Center, is connected via a bridge to another Google-owned office property, namely Chelsea Market at 75 Ninth Avenue.
Class B Meatpacking District Office Space
The Milk Building offers 306,000 square feet of Class B Meatpacking District office space, as well as retail and showroom space. The eight-story building is currently owned by Google and managed by previous owner Jamestown, with Newmark Knight Frank handling leasing.
The office building at 450 West 15th Street was converted to creative office and retail space in 1971, and was further upgraded in 2014. Amenities include tenant-controlled HVAC, 24/7 security, 12-foot-high ceilings with a loft-like feel, and views of the High Line and the Hudson River. Bays of office space are available for rent in dimensions of 25 feet by 25 feet, or 25 feet by 16 feet.
Getting to and from 450 West 15th Street
The Milk Building benefits from an excellent location in the heart of the fashionable Meatpacking District, straddling the border with Chelsea. Those working in the building have easy access to a plethora of shopping and dining destinations in the area, and enjoy direct access to Google’s Chelsea Market. Nearby transportation options are the A, C, E and L trains at the 14th Street subway station.
Who is renting office space at 450 West 15th Street?
The Milk Building has been a fashion industry hotspot for decades, starting in 1998, when Calvin Klein started presenting his runway shows here. Today, the property at 450 West 15th Street continues to house fashion brands, including Tod’s and Giorgio Armani, while tech giant Google occupies three floors of office space. Other tenants include Blue Bottle Coffee and Palio. Milk Studios, which occupies a significant portion of the building, is set to vacate its space by the summer of 2020, and will be moving to a different location.
How much is the rent price for office space at 450 West 15th Street?
Office asking rents at The Milk Building tend to be more affordable than the average commanded in Midtown South, which hovers around $85 per square foot. As a Class B property, the office building at 450 West 15th Street boasts lower rents than Class A assets, but it still offers all the modern amenities that creative office tenants look for nowadays.