Office Space for Rent in NYC

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Office Space for Rent in NYC

Before entering office space for rent nyc in Google and spending hours researching listings, you must decide what environment suits your company: a traditional NYC office rental or an open plan, creative loft setting.

Traditional NYC Office Rentals

An office for rent with drop ceilings appeals to corporate tenants like accounting, law, financial services, and consulting firms. For these industries, a high density of offices allowing privacy for executives is essential. Concentrated in Grand Central, The Financial District, Times Square and The Plaza District, office intensive space is mainly located in traditional commercial buildings.

Commercial Loft Space for Creative Firms

In recent years, open plan collaborative workspaces in formerly industrial buildings have become extremely popular. With open ceilings, brick walls, oversized windows and concrete or hardwood floors, they usually have a bullpen area that can accommodate many cubicles. Chelsea, NoMad, The Garment District, SoHo and Tribeca have a large inventory of creative loft spaces in strong demand from technology, media and Internet companies. Even some financial services companies are leasing open plan collaborative workspaces in these areas.

Short-Term and Flexible Office Rental NYC: Shared Executive Suites

If you need a small space for one month to one year, a shared executive office suite is the easiest solution. Executive office suites are delivered furnished with phone and Internet up and running. With a staff smaller than three people, it will cost you less than renting a private office from a landlord. But, if your staff exceeds three employees and your company can commit to an office for a longer term, you will find that renting your own space directly from a landlord will be far more cost-effective.

Three Key Markets: Midtown, Midtown South, Downtown

Most NYC office rentals are located in Manhattan. They are situated in three major commercial real estate markets: Midtown, Midtown South, and Downtown.

Prominent business neighborhoods include Grand Central, Penn Plaza, Times Square, Union Square, Chelsea, Flatiron, Hudson Square and Wall Street. Each one has a strong identity and attracts specific industries.

Times Square, Grand Central, Wall Street and The Plaza District offer traditional high-end NYC office space for lease in classical commercial buildings. With high-speed elevators, lobby sign in, state of the art mechanical systems, on-site property management, these properties appeal to financial services firms, major corporations, and media firms.

Midtown South has the largest inventory of former industrial buildings with loft space perfectly tailored for young creative businesses, both established or start-ups. This hip area that includes The Flatiron District, NoMad, Chelsea and Union Square attracts emerging industries like social media, renewable energy, virtual currency (Bitcoin), mobile computing and software development.

How Are New York Office Buildings Rated?

 Regardless of whether you need traditional office space, an open plan commercial loft or a short-term executive office suite, it is helpful to understand the differences between “A”, “B” or “C” office buildings:

Class A Buildings: Prestigious and Luxurious

  • Lobbies attended by staff 24/7
  • Air-conditioned lobbies and common areas
  • Property management on premises
  • High level of capital improvements
  • Cleaning services included in the base rents
  • Advanced fire alarm and security systems

Class B Buildings: Affordable & Functional

  • Traditional lobbies and corridors
  • 24/7 tenant access
  • Attended lobbies, mostly during business hours

Class C Buildings: Bare Bones and Cost Effective
Class C buildings offer the most affordable NYC office space for lease. They are usually former warehouse or manufacturing buildings converted to office use. In some cases attended, the lobbies may range from nice and acceptable to bare bones and functional. Class C buildings are great for start-ups that are seeking to an inexpensive office space for rent NYC.