Medical Space for Lease and Rent in Manhattan and NYC
Find the perfect Medical Space for Rent in NYC with Metro Manhattan! Requirements for medical office space in Manhattan vary greatly depending on the needs of the practice. Many facilities want to rent medical space in neighborhoods with a high-density of office buildings, where many upscale patients could easily walk to their practice. Downtown Manhattan and Midtown Manhattan are common choices. There is also growing demand for medical office space in the Financial District, which is the fastest growing residential neighborhood in Manhattan.
In the rest of Manhattan, the Upper East Side and Upper West Side are good choices for medical practices owing to their dense residential populations. Major hospitals in Manhattan are surrounded by medical office space rented by many kinds of practitioners.
The Upper East Side is in great demand because New York Presbyterian, Hospital for Special Surgery and Mount Sinai are all located nearby. There are several medical buildings between 5th Avenue and 8th Avenue that residents from the Upper East Side can visit without excessive travel.
The Upper West Side is in demand for physicians, psychologists, physical therapists and dentists who want to rent ground floor medical space to establish their practice in this desirable, upscale neighborhood.
For over 17 years, Metro Manhattan Office Space has successfully negotiated many hundreds of leases for office space in New York City. Make use of our knowledge of the available listings, landlords and buildings, and take advantage of record low square footage costs in 2021 by securing a highly favorable long-term lease to reduce your business’s long-term real estate costs. Browse our listings or call us for access to thousands of properties not currently listed on our site: (212) 444-2241
The Challenges of Leasing Healthcare and Medical Space in Manhattan and NYC
Leasing medical office space in NYC has special requirements that are not necessary in other types of commercial office space. Easy access for patients, proximity to hospitals, provisions for hazardous waste, sufficient electrical capacity for equipment, plumbing in multiple rooms and others.
Medical spaces often have extensive daily foot traffic, which limits available building options. There is also a need for clean and well-maintained infrastructure with excellent lighting and a comfortable feel for patients. The condition of common building areas matters – patients may be much more reluctant to come back if they don’t feel comfortable or safe in the building or area that you select.
Compliance requirements for the Federal American Disabilities Act (ADA) are particularly important for practitioners like physical therapists or neurologists whose patients may have limited mobility.
As you can see, there is substantial benefit to having an experienced broker with extensive knowledge of available inventory to assist you in your search. It is possible to overlook important nuances or settle for a subpar space that will negatively affect the bottom line for your practice.
Many landlords do not allow their buildings to be used for medical purposes due to the complications listed above. New York City commercial property owners tend to concentrate Manhattan medical office space in designated “medical buildings”. Some co-ops and condominiums rent or sell their ground floor or basement space to medical practices, especially if they are located close to area hospitals.
If you are a doctor looking to lease medical space in Manhattan and NYC, give us a call at (212) 444-2241 and let us assist you with your challenge. We’ve represented a large number of medical practitioners in New York City; we understand the requirements and constraints of medical tenants, and we will help you find the ideal space for your practice.
Common Tenant Considerations for Medical Space
- Location, proximity to customers and other medical facilities such as labs and hospitals
- Building infrastructure to accommodate high foot traffic associated with medical or therapy use
- Special infrastructure requirements (electrical and plumbing)
- Ease of access for patients, including ADA compliance
- Neighborhood safety & security
- Willingness of landlord to provide turnkey buildout or provide economic contribution towards buildout for required facilities
- Parking for staff and patients
- Building security
- Neighboring tenants
- Favorable long-term lease terms
- Overall leasing costs
- Medical offices
- Doctor offices
- Dental suites
- Research facilities
- Psychiatry & therapy offices
- Chiropractor suites
- Spa & treatment suites
Current Average Medical Space Leasing Costs in Manhattan
(Updated Mar. 2021)
Upper East Side: $60.00 to $105.00 per square foot
Upper West Side $55.00 to $90.00 per square foot
Midtown Manhattan: $40.00 to $90.00 per square foot
Financial District: $35.00 to $70.00 per square foot
Ready to get help?
Talking to us will give you new insights. Our goal is to facilitate your search for a new space while protecting your interests and saving you money. Call us at (212) 444-2241 and benefit from our 17 years of specialized commercial real estate experience in Manhattan.
Frequently Asked Questions
How much does it cost to rent a medical office in Manhattan and NYC?
It costs from $2,000 to $20,000 a month to rent a medical office in Manhattan.
What are some popular neighborhoods for medical offices in Manhattan and NYC?
The major hospitals in Manhattan are surrounded by medical office space rented by physicians, therapists, acupuncturists, chiropractors, dentists and other practitioners. The Upper East Side is in great demand because New York Presbyterian, Hospital for Special Surgery and Mount Sinai are all located in these neighborhoods. The residential area of the Upper West Side is another neighborhood in high demand. Physicians, psychologists, physical therapists and dentists all want to rent a ground floor professional space to establish their practice in this desirable, upscale neighborhood.
How do you find the right medical office space in Manhattan and NYC?
When looking to lease medical office space in NYC, the most important factor to consider is location. Proximity to public transportation, as well as access to dining and retail, are crucial. Renting a medical office space in a business district with street signage is a great way to attract walk-ins and be easily reachable by patients who live or work in the area. When you have very specific healthcare space needs, including build-outs, special plumbing, and ADA compliance, it makes sense to hire an expert. We know this market and have successfully represented dentists, physical therapists, acupuncturists and physicians in their search for medical space that best suits their needs and where the practice can thrive.