Office Space for Lease in Hudson Square and Tribeca

Three years ago the knock on Hudson Square was that nobody wanted it. Trinity Church and its partners had just spent a fortune rebuilding thirteen old printing houses for a tech office wave that stopped cold when the pandemic hit, which left a beautiful neighborhood full of expensive empty floors. Brokers called it a glut, and they weren’t wrong.

Then Manhattan ran out of space. Not all space, just the kind anyone actually wants: big, modern, contiguous, in a building someone recently spent real money on. By this spring, Colliers counted roughly ten blocks over 100,000 square feet available citywide in the next year. Two of them sat right here.

What happened next was inevitable. PayPal took 261,000 feet at 345 Hudson. Google renewed 411,000 at 315 Hudson. Tennr grabbed another 125,000. Then in July, Anthropic leased all 466,000 square feet of 330 Hudson, the entire building, roughly thirty times the office it had before.

South of Canal, Tribeca plays a quieter game entirely. Citigroup’s 2.6-million-foot campus on Greenwich anchors it, the loft stock is landmarked and scarce, and vacancy sits at 15.7%. The two neighborhoods share a page, a subway line, and a hyphen. They are not the same market.

Working out which side of Canal Street you belong on is most of the job, and it is what we do all day. If you would rather see what is open before reading another word, start with the listings.

Hudson Square and Tribeca Office Market Overview

For most of Manhattan, high availability is a problem to explain away. In Hudson Square it turned into the entire business plan.

Colliers had the neighborhood at 19.4% availability at the end of the first quarter, third-highest in the city. Ordinarily that reads as a distress signal. This year it read as opportunity, because the rest of Manhattan tightened to 13.0% availability, the lowest since October 2020, and a tenant needing a real block had almost nowhere else to go.

CBRE’s Paul Amrich, who runs leasing on the thirteen-building Hudson Square Properties portfolio, said he had never seen Manhattan this short on quality supply in a thirty-year career. When the good space vanishes everywhere else, the districts sitting on it stop being also-rans and start being the only game.

The leasing proves it. JLL clocked Hudson Square volume more than doubling between 2024 and 2025, then asking rents climbing better than 17% in three years, from $77.12 at the start of 2023 to $90.50 this spring. Amrich’s partner Howard Fiddle expects virtually all thirteen buildings leased within a year.

Four Forces to Monitor

• Artificial intelligence decided this is home. Anthropic just took the whole 465,630-square-foot building at 330 Hudson from AEW Capital Management, thirty times the office it had before. Citywide, AI firms leased 800,000 square feet in the second quarter alone, more than in all of 2025. Every landlord within ten blocks now has that comp in his pocket.
• The discount is closing, and quickly. Manhattan free rent averaged 12.4 months in the first half of 2026, the lowest since 2019, while improvement allowances flattened near $140 a foot (Colliers, Q2 2026). Midtown South landlords repriced 11.1% of direct space higher against 4.9% lower. Two years ago you set the terms; today the owner can wait.
• Tribeca has almost nothing to sell you. The 15.7% vacancy looks loose until you see what sits inside it, and no office is under construction anywhere in Lower Manhattan to relieve it. Consider 15 Laight, where Hyundai paid $273.5 million cash in 2023, roughly $2,500 a foot, and never moved in. SL Green took over leasing in April.
• Trinity has been the landlord since Queen Anne, and it still is. The church took 215 acres in a 1705 royal grant, sold St. John’s Park to Vanderbilt for a freight terminal, then watched that terminal become the St. John’s Terminal Google bought for $2.1 billion. Disney ground-leased its block for 99 years. Nobody plays a longer game.

What Does Office Space in Hudson Square and Tribeca Actually Cost?

Anyone who answers that with one number is guessing, or selling. On these blocks a rebuilt floor on Hudson Street and a prewar loft below Canal can be eight minutes apart and thirty dollars apart.

The honest breakdown starts with Hudson Square at roughly $90.50 a foot on average (JLL, Q1 2026). That sits about nine dollars above Midtown South‘s $81.14 overall (Cushman & Wakefield, Q2 2026), which tells you the rebuilt Hudson Street stock now prices like Class A rather than like the loft district it grew out of.

Our own neighborhood study, as of August 2025, put Hudson Square Class A at $81.22 aggregate against 29.6% vacancy, and Tribeca at $74.12 aggregate against 40.8%. Treat the Tribeca figure carefully. Direct inventory down there is so thin that a single listing swings the average, which is exactly why touring beats averages.

Practically, expect rebuilt Hudson Street Class A in the high $80s and $90s, boutique Tribeca product asking past $100, Varick Street loft in the $60s and $70s, and older prewar space below that. Before you tour anything, run your headcount through our office space calculator so you are chasing the right footprint.

Class A and the Rebuilt Hudson Street Stock

Class A here means Hudson Street, and the building everyone points at is 345 Hudson. Hudson Square Properties spent close to $600 million over four years turning a 1931 printing plant into an 860,000-foot tower, then bridged it into the ground-up 555 Greenwich next door, and the pair became New York’s first fossil-fuel-free office complex on a shared geothermal loop.

That complex is where the money went this year. PayPal signed 261,000 feet across three floors on a ten-year deal for a new flagship workplace, opening in 2027, joining Fanatics, Audacy, and Lerer Hippeau. Tennr then subleased 125,000 feet in April, taking down most of the block Google had been shopping since early 2025.

Across the street, 330 Hudson is now Anthropic’s, all sixteen floors of it. AEW bought the building for $385 million in 2018, and the lease covers roughly 466,000 feet with room for 1,700 people. Down the block, Jack Resnick & Sons kept Google at 315 Hudson on a 411,000-foot renewal.

If you are trying to separate a genuine trophy from a building that merely charges like one, our guide to what actually sets trophy buildings apart is worth twenty minutes before you sign anything, and so is our rundown of the best Class A towers in Midtown if you are weighing this against uptown.

Class B and Loft, Where Most of the Deals Get Done

Strip away the headlines and most leasing here still happens in the old loft buildings, which is good news, because the stock is superb. Varick Street is lined with prewar printing houses that Hudson Square Properties has been steadily renovating: 75 Varick, 160-170 Varick, 200 Varick, and 225 Varick.

These are not consolation prizes. Horizon Media renewed roughly 360,000 feet at 75 Varick, Notion renewed there too, and 225 Varick is where Brooklinen landed on a ten-year, 32,000-foot deal after leaving Dumbo. Red Antler made the same move into 160 Varick. The buildings work because the floors are big, bright, and genuinely characterful.

One piece of advice worth more than the letter grade: ignore the B. A renovated loft on Varick can wear a B and still out-ask a Class A tower in plenty of Midtown, because what you are buying is ceiling height, light, and a usable plate, not a letter an appraiser typed into a spreadsheet.

Two lofts on the same block will quote you wildly different numbers on the same afternoon, so tour them yourself and do not put much faith in the average. This is the same loft stock that pulls tenants into SoHo and Chelsea, often at similar money.

Class C and Value Space

The real bargains sit below Canal and along the edges: older prewar on the Tribeca side streets, the upper floors of 401 Broadway and 285 West Broadway, and the smaller buildings around Franklin and Worth. This is where small firms, nonprofits, and early-stage companies get the neighborhood without the Hudson Street invoice.

Two honest warnings before you get excited. Nobody publishes a clean Class C average for this submarket, so if a landlord hands you one precise figure as settled fact, keep your guard up. The cheap space is also thinning as owners renovate their way upmarket, so the window that is open today is narrower than it was two years ago.

Worth knowing: Manhattan sublet inventory shrank 22% over the past year and now sits about 9% below pre-pandemic levels (Colliers, Q2 2026). The cut-rate sublets that saved tenants in 2023 are disappearing, so if price is driving you, move. Read the sublease and assignment clauses before you count on one.

Concessions, Where the Real Money Hides

This is the part of the deal where tenants leave the most on the table. They fight over the asking rent, claw back a couple of dollars, feel good about it, then completely ignore the two levers that actually move the math: free rent and the build-out money.

The market has tightened, so the giveaways are not what they were. Manhattan free rent averaged 12.4 months in the first half of 2026, the lowest since 2019, while improvement allowances plateaued near $140 a foot (Colliers, Q2 2026). There is still real room to negotiate, particularly off the Hudson Street spine.

Roughly what recent deals look like on a five or ten-year term, keeping in mind that shorter terms earn less and longer terms earn more (Metro Manhattan internal research, July 2026):

Two things to settle before you sit down. Your effective rent almost always lands well below the face rent once you count the free months, which our breakdown of landlord concessions walks through. A build-out check is only worth what it actually builds, so nail down who is paying for it first.

If term length is your sticking point, our guide to three, five, and ten-year leases lays out the tradeoffs, and our take on lease clauses covers the language that quietly costs you three years in.

Who Leases Here, and Where You’ll Fit

The building picks the tenant here as much as the other way around. Hudson Street pulls AI, tech, and fintech at scale. The Varick lofts pull agencies, design shops, and consumer brands. Tribeca pulls finance, law, and anyone who wants the address more than the floor plate. Find your row below and your search shrinks before you tour a thing.

Running a small team? This is not the cheap end of Manhattan, and I will not insult you by pretending otherwise. The Tribeca side streets and the older Varick stock still make it reachable, and the neighbors you get at that size are not available anywhere else in the city.

If you are still choosing between areas, our guide to the best NYC neighborhoods for small businesses is the place to start. If you are finally trading a shared desk for your own door, we walked through how to make that leap without regretting it.

The Buildings, and What You Actually Get

Two things here that money cannot manufacture: a stock of prewar printing houses with floor plates nobody would build today, and a river at the end of every block. The new arrivals set the amenity bar high, so the older buildings answered the only way they could, by gut-renovating and filling up with move-in-ready suites. It breaks into three tiers.

Rebuilt Class A on Hudson Street. 345 Hudson and 555 Greenwich share roughly 100,000 square feet of amenities across the Hudson Square Properties portfolio: rooftop terraces, lounges, wellness space, and a fossil-fuel-free geothermal system that is the only one of its kind in a New York office complex. 330 Hudson and 315 Hudson round out the tier.

The campuses you cannot rent. Google’s $2.1 billion St. John’s Terminal is a 1.7-million-foot campus with the city’s largest public rooftop, and Disney’s 1.2-million-foot Robert A. Iger Building at 7 Hudson Square holds ABC News, ESPN, and WABC studios behind a green terracotta facade. Neither leases. Both are why the rest of this leases.

Loft and value on Varick and below Canal. Prewar bones, oversized windows, attended lobbies, and a growing bench of prebuilt suites. Then the outliers: 60 Hudson, the old Western Union Building, is one of the most important carrier hotels on the planet, and 32 Avenue of the Americas holds a 569,000-foot data center behind an Art Deco lobby.

Buildings Worth Knowing

• 345 Hudson Street and 555 Greenwich: the portfolio’s flagship. A 1931 printing plant rebuilt into 860,000 feet, bridged into a 270,000-foot ground-up tower, now leased to PayPal, Fanatics, Audacy, Lerer Hippeau, and Tennr. COOKFOX designed it.
• 330 Hudson Street: AEW’s 16-story, 465,630-foot tower, now leased in its entirety to Anthropic. Existing tenants including Deloitte and the Financial Times phase out through September 2028.
• 315 Hudson Street: Jack Resnick & Sons’ repositioned Class A building and the anchor of Google’s New York campus, renewed at 410,556 feet in 2026.
• 137 Varick Street, 7 Hudson Square: Disney’s 22-story, 1.2-million-foot East Coast headquarters, designed by SOM and developed by Silverstein Properties on a full block Trinity ground-leased for 99 years.
• 75 Varick Street, 1 Hudson Square: the Varick workhorse, anchored by Horizon Media’s roughly 360,000-foot renewal, with Notion alongside it.
• 160-170 Varick Street, 10 Hudson Square: industrial loft with a facade Trinity turns over to local artists, home to Red Antler.
• 200 Varick Street, the Graphic Arts Center: a printing-era loft building and one of the neighborhood’s better creative addresses.
• 15 Laight Street: Vanbarton’s eight-story boutique building on the old Tribeca Cinemas site, terraces on every floor, owned by Hyundai and leased by SL Green. Suites run roughly 11,000 to 18,000 feet, available immediately.
• 388 and 390 Greenwich Street: Citigroup’s 2.6-million-foot global headquarters, a 39-story tower stitched to a former printing plant by SOM, LEED Platinum and WELL Platinum, roughly 12,000 employees. Owner-occupied, so treat it as gravity rather than inventory.
• 401 Broadway and 285 West Broadway: North Tribeca prewar with smaller, characterful floors and the most attainable rents on the page.
• 99 Hudson Street, the Maltz-Franklin Building and 40 Worth Street: Tribeca-core Art Deco and prewar loft, the natural home for boutique law and professional firms.
• 32 Avenue of the Americas and 101 Avenue of the Americas: the Canal Street edge, where Class A specs, big floors, and serious infrastructure meet Tribeca rents.
• 375 Hudson Street, 395 Hudson Street, 60 Charlton Street, 30 Vandam Street, and 201 Varick Street: the deep bench, ranging from repositioned Class A to small boutique floors.

See all Midtown South buildings, or filter live listings by size and price.

Who Owns These Buildings, and Why You Should Care

Who holds the keys matters as much as which building you pick, because no two owners here play the same game.

Hudson Square Properties is the one you will deal with most. Trinity Church holds the majority stake alongside Norges Bank Investment Management and Hines, and the venture runs thirteen buildings and 6.3 million square feet. It kept spending straight through the pandemic while other owners wrote their assets down, and that patience is paying now.

What that means across the table is less desperation than you would like. These are not owners who need your deal this quarter.

Around them the field is unusually lopsided. AEW owns one building and just leased all of it. Jack Resnick & Sons is a family shop with one very large tenant. Hyundai owns a boutique tower it has never occupied and hired SL Green to fix that. Citigroup and Google simply own their own buildings and are not renting you anything.

The real value of a tenant broker down here is knowing which of these owners deals straight and which one grinds you on the last dollar, and that knowledge does not appear on a listing site. Our rundown of the biggest landlords in NYC maps the wider field.

Getting There

The transit story splits the same way the market does. Hudson Square is a west-side subway neighborhood with one local line and two more a short walk east, which suits a team living in Manhattan or close-in Brooklyn. Tribeca is genuinely well connected, with a dozen lines converging around Canal and Chambers.

The honest catch for both: there is no commuter rail. A suburban roster riding Metro-North or the LIRR is looking at a transfer and a subway ride, so if half your people come in from Westchester, be realistic. Settle the argument with our commute calculator and everyone’s home address rather than a hunch.

The other thing nobody mentions on a tour: the Holland Tunnel empties out onto Canal, Hudson, and Varick, and at 5pm on a Thursday it shows. Ask which side of the building your floor faces.

Before you tour, skim the essentials to ask before leasing and the key terms to get into your lease offer.