Office Space for Lease and Rent in Manhattan and NYC
Find your ideal Office Space for Rent in NYC with Metro Manhattan. Since 2004 Metro Manhattan Office Space has successfully negotiated many hundreds of leases for office space in New York City. Benefit from our knowledge of the available listings, landlords, and buildings. You can take advantage of record low square footage costs in 2021 by securing a highly favorable long-term lease to reduce your business’s real estate costs. Browse our listings or call us for access to thousands of properties not currently listed on our site.
Lower Manhattan has an abundant inventory of Class A office space for lease. Historic Class A buildings draw large corporations, international law firms, and financial services firms. But the Financial District also offers affordable commercial office rentals in professionally managed properties. Many law firms lease space in City Hall buildings near the courthouses and municipal buildings. Financial sector businesses tend to lease their offices near Wall Street and the major stock exchanges. Whether you operate in finance, legal services, marketing, or technology, a Downtown Manhattan location represents a key global business location for your company.
Lower Manhattan’s office inventory of just under 90 million square feet features some of New York City’s most iconic landmarks. The World Trade Center site has been fully developed, featuring the Oculus transit hub and modern, trophy Class A office towers including One World Trade Center, the tallest commercial office building in the Western Hemisphere.
Consisting of the city’s financial engine and its Insurance District, as well as housing its public administration and judicial system, Lower Manhattan offers a significant office inventory, available on a wide array of prices and amenity levels.
At over 242 million square feet of office, Midtown is the largest of three major areas that make up the Manhattan office market. Home to iconic landmarks such as the Empire State Building and the Chrysler Building, Midtown is also where some of Manhattan’s fastest growth is occurring.
Among notable developments, One Vanderbilt is a 67 floor $3.3B skyscraper that was completed in late 2020 and offers 1,750,212 sqft of Class A office space in Midtown Manhattan. See our video about this building here.
There are plans to demolish the Grand Hyatt Hotel (historically known as The Commodore Hotel), located directly East of Grand Central Terminal, and replace it with a 1,645-foot, 89 story office, and hotel tower. The building would be more than 3,000,000 square feet and be among the tallest buildings in Midtown Manhattan when completed in 2030. Project Commodore would add to the modern state-of-the-art Class-A office space in Midtown East.
The Hudson Yards redevelopment project is home to office towers designed by Skidmore, Owings & Merrill and Diller Scofidio + Renfro, the nexus point of Midtown’s Western real estate renaissance.
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 and others), mobile computing, and software development.
Common Tenant Considerations for Office Space
- Location, proximity to primary clients
- Ability to expand within building
- Access to public transportation for employees
- Building amenities (gyms, waiting areas, bathrooms, shops etc.)
- Telecommunications (fiber internet access, VoIP, 4G/5G cellular availability etc.)
- Elevator availability (number of elevators, speed, condition etc.)
- Underground parking
- Building security
- Visibility and prestige
- Neighboring tenants
- Office space build-out, signage and other customizations
- Favorable long-term lease terms
- Overall leasing costs
- Financial Firms
- Law Firms and Legal Services
- Health Care & Medical
- Accounting Firms
- Advertising Agencies
- Public Relations
- Not for Profits, NGOs, Consulates and Embassies
Current Average Office Space Leasing Costs in Manhattan
(Updated Apr. 2021)
Class A Buildings: $45 to $130 per square foot
Class B Buildings: $33 to $80 per square foot
Class C Buildings: $26 to $55 per square foot
(see explanation about building classes here)
Ready to get help?
Talking to us will give you new insights. Our goal is to facilitate your search. Call us at (212) 444-2241 and benefit from our 17 years of specialized commercial real estate experience in Manhattan.
Major Institutional Landlords for Office Space in Manhattan
A great deal of office space in Manhattan is owned and operated by institutional landlords. With vast portfolios and excellent management, properties owned by these companies can make an excellent choice for a tenant who requires a reliable and worry-free long-term office lease.
A list of major institutional landlords in Manhattan (from larger to smaller):
- SL Green Realty
- Vornado Realty
- Brookfield Properties
- Tishman Speyer
- RXR Realty
- Silverstein Properties
- Rudin Management
- The Durst Organization
- Boston Properties
- Empire State Realty Trust
New York Office Building “Classes”
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 inexpensive office space to lease in NYC.