Leasing Financial District Office Space is Affordable
Manhattan’s Financial District remains the nerve center of the national and world economies. Leasing Financial District office space is prestigious and surprisingly affordable. While many banks and financial services firms call Midtown home, nothing will ever equal the majesty of the words “Wall Street”. For here remains the New York Stock Exchange, an institution of vital importance to the city, nation, and world. Here also is the Federal Reserve Bank of New York, in a fortress-like (but beautiful) building housing many nations’ gold reserves. It is the most important of all the Federal Reserve branches in America.
Building such as 14 Wall Street (The Former Banker’s Trust Building) and 40 Wall Street (The Trump Building) offer surprisingly affordable Wall Street office space for rent in top notch Class A commercial buildings.
Work in the District the Subway System Was Designed to Take People To
Few places are better served by public transportation. When the subways were built they all pointed to the Financial District. The 4 and 5 East Side trains run under Broadway, while the N and R trains operate beneath Trinity Place. The West Side 1 and 2 trains stop right at Wall and William streets.
Between the very attractive Financial District office rents and the amenities of what is now a mixed-use district, along with good transportation options, it’s hard not to like the Financial District.
Call (212) 447-5403 for information about Financial District office space for lease.
A Mixed-Use Neighborhood
Many New Yorkers remember when this was a neighborhood devoid of life at night or on weekends. That is no longer the case. Much classic pre-war New York City commercial real estate, no longer suited to financial services firms with their need for extensive wiring, have been converted into luxury residential buildings.
The neighborhood boasts an impressive 38 Class A properties, which also happen to be, at an average $52.09 per square foot, among the best Class A deals in the city. The Class A vacancy rate for Financial District office space is 5.4%. There are 24 Class B and 26 Class C properties. The smaller number of these compared to Class A properties indicates the trend in converting older NYC office space, much of it in designated landmarks, into residences. The average rent for Class B properties is $44.95, and for Class C properties $34.36. The Class B vacancy rate is 6.3%, the Class C rate is 8.4%.
Important commercial real estate includes One Liberty Plaza, 140 Broadway, and One Chase Manhattan Plaza, all classics of Modernist architecture that coexist thrillingly with pre-war gems such as 100 Broadway, one of the most beautiful of the city’s early Classical skyscrapers, and One Wall Street, an Art Deco beauty. Many excellent small museums, including the Museum of American Financial History, Federal Hall National Memorial, and the Museum of the American Indian dot the area.