Top NYC Neighborhoods for Office Space for Financial Services Companies

The Top NYC Neighborhoods for Financial Services Firms

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

There are few industries that are as high stakes as financial services industry, where its workforce is the currency of success and, and where the choice of which neighborhood to locate your office can make or break a firm’s ability to attract talent, impress clients, and create connections that drive billion dollar deals. In New York City, three key markets attract top financial services firms: the Plaza District, Hudson Yards, and Financial District. Below is a closer look at these neighborhoods, why they appeal to financial firms, and key trends shaping each submarket.

Plaza District

The Plaza District has long been one of New York City’s most sought after submarkets in NYC for financial services firms. Located on Manhattan’s East Side, it provides one fo the easiest and convenient commutes for executives and employees commuting from affluent suburban enclaves like Connecticut, Westchester, and most recently, Long Island. This prime location fuels persistent demand, prompting landlords to continuously develop and redevelop properties into some of the world’s most iconic office buildings including 425 Park Avenue, 270 Park Avenue, the Seagram Building, and 125 West 57th Street. These buildings range from cutting-edge new constructions-boasting supreme efficiency, advanced technology, and adaptable floorplans-to timeless buildings reborn with modern lobbies, striking facades, and top-tier amenities such as fitness centers, exclusive lounges, and premium meeting spaces. As a result, the Plaza District boasts more Class A office space than any other market globally.

This relentless innovation attracts a prestigious tenant mix seeking the most sophisticated office environments to distinguish themselves-firms that demand the best and, crucially, can afford it. Investment banks, hedge funds, family offices, law firms, and consulting giants dominate the landscape, drawn to the superior real estate and the district’s status as a natural networking hub. The Plaza District fosters both spontaneous and strategic interactions among banks, hedge funds, private equity firms, law firms and consultants, creating an ecosystem ripe for collaboration and deal-making. Complementing this professional allure is the area’s concentration of upscale restaurants and exclusive private clubs, making it an ideal base for firms catering to high-net-worth clients.

Plaza District Market Dynamics

While other NYC submarkets have experienced year-over-year declines in occupancy, the Plaza District has bucked the trend, attracting small and large firms alike and driving the market to single-digit vacancy rates. This demand has driven rental rates from $90 to $115 per rentable square foot for Class A office space, with Trophy office spaces exceeding $250 per rentable square foot. The strong market is expected to continue through this year and into the next. Limited new construction-most of which is pre-leased-has further tightened supply. With 20% of Class A leases expiring within the next two years, tenants are already moving to secure long-term agreements.

Hudson Yards

Hudson Yards has transformed Manhattan’s Far West Side, a once barren stretch of below grade rail yards, into a vibrant hub for financial powerhouses. This submarket boasts the city’s highest concentration of new or renovated Class A buildings, including 30 Hudson Yards, 55 Hudson Yards, and 35 Hudson Yards. These towers offer expansive open floorpans, cutting edge building technology, and amenities designed for a modern work life balance.

Hudson Yards has drawn some of the world’s most impactful companies including investment banks, private equity firms, tech innovators, and top tier law firms. Companies that are innovators looking for world class office environments that inspire, differentiate, and attract top talent. Hudson Yards’ location offers seamless commutes from New Jersey via Penn Station, Brooklyn’s elite enclaves via the 7 train or ferries, and the Upper West Side by car. This offers a practical edge for decision makers looking for a balance of efficiency and prestige. What sets Hudson Yards apart from other office submarkets in New York City is its city within a city feel- cohesive and purpose built with a mix of high end residential buildings, world class dining, cultural offerings for visitors, and office space for industry.

Hudson Yards Market Dynamics
Hudson Yards’ ascent embodies the adage that a rising tide lifts all boats. The submarket’s wave of new construction has attracted industry giants preleasing premium Class A space, with smaller firms quickly following their lead. Vacancy rates here linger in the high single digits, and office spaces under 10,000 rentable square feet are scarce. Asking rents for Trophy and Class A properties hover near $200 per rentable square foot, reflecting an exceptional office experience: thoughtfully designed layouts, high-end finishes, abundant natural light, stunning views, and a building package that ranks among the world’s finest.

Financial District

The Financial District, sitting at Manhattan’s southern tip, got its name as the historic center of finance and stays a major spot for financial services companies today. Wall Street, right in its core, has long been the symbol of big money and trading, and that legacy still shapes the area, mixing with a newer, modern feel. Its location makes commuting simple from Brooklyn, Jersey City, and Staten Island with subways, ferries, or PATH trains, and it’s close to other Manhattan neighborhoods too. This keeps people coming, supporting a range of buildings like One World Trade, the updated One New York Plaza, 17 State Street, and 250 Water Street. These include older places fixed up with new systems and good interiors, plus fresh towers offering practical designs, modern tech, and extras like rooftop decks, fitness rooms, and solid dining spots.

Financial District Market Dynamics
The Financial District is steadying out in early 2025, with more leases and less office space keeping things balanced. Big and small companies are signing deals, dropping availability to 23%-down 3.5 points from last year-especially in nicer buildings where it’s fallen almost 5 points. Rents for all offices sit at $54 per square foot, cheaper than Manhattan’s $71 average, attracting value driven space users from Midtown, though newer or renovated buildings are over $70, inching up lately after a 5% drop since 2020. Over 1.5 million square feet got pulled last year for residential conversions-like 720,000 at 80 Pine Street and 300,000 at 77 Water Street-tightening what’s left. Overall, demand is steady, with tenants renewing in place or upgrading to higher quality space, while landlords toss in perks like free rent or $140 per square foot for upgrades to keep them.

March 31, 2025

NYC Market Update- 3Q2024

Manhattan Office Market Update- 3Q2024

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Navigating NYC’s Office Market: Rent Trends and Vacancy Rates

Hover over the map below to explore the average asking rents and vacancy rates across NYC’s office submarkets, based on Costar’s latest research. One interesting trend you’ll notice is that the typical supply-and-demand relationship in the office market isn’t holding up as expected. Normally, as vacancy rates rise (increased supply), rental rates fall. However, that’s not what we’re seeing right now in New York City.

Flight to Quality: A Key Driver

One major reason for this anomaly is the pronounced “flight to quality” among tenants. If you focus on the top 50 office buildings in NYC (excluding newly completed buildings still in lease-up), the vacancy rate is just shy of 10%, not far from the pre-COVID figure of 9%. Meanwhile, the average asking rent for these premium spaces is holding steady at around $114 per square foot—remarkably close to the pre-pandemic average of $114.86 per square foot.

In stark contrast, Class B and C office buildings are facing higher vacancy rates—20.7%, up 2.4% from the previous quarter—and a significantly lower average asking rent of $56.03 per square foot. Tenants are clearly willing to pay more for high-quality, well-located offices, leaving older, less desirable properties with rising vacancies.

On-the-Ground Insights: A Market on the Move

Leasing activity often serves as an early indicator of broader economic trends. Long before official data hits the headlines, commercial real estate brokers observe shifts in demand that signal growth or contraction. Based on the recent surge in activity we’re seeing, it appears the office market is poised for further rent growth and declining vacancies.

In fact, of the last 11 lease transactions we’ve been involved in over the past three months, nearly every deal had 1–3 competing tenants submitting offers, often within days of the space hitting the market. While this competition has been common in prime locations like the Plaza District and Grand Central, it’s now spreading to Midtown South and even Downtown—a clear sign of strengthening demand across the city.

Rezoning and Future Supply

Looking ahead, New York City’s upcoming rezoning initiatives, including the City of Yes and the Office Adaptive Reuse Task Force, are set to reshape the office supply landscape. These measures will likely reduce the availability of office space by encouraging conversions and modernizations, particularly of older properties. This, in turn, will support higher rental rates and bring much-needed upgrades to aging office stock.

Source: Costar, Inc.

NOTABLE
LEASE COMPS

Tenant:	Knighthead Capital Management
Building:	320 Park Avenue
Premises:	Entire 28th Floor- 15,361 RSF
Rent:	Years 1-5: $133.00/ RSF Years 6-10: $143.00/ RSF
Term:	10 Years
Free Rent:	12 Months
Notes:	Landlord is building the space with a contribution capped at $160.00/ RSF.

September 10, 2024

Newly Built and Furnished Sublease in Nomad with a Huge Private Terrace!

NEW HIGH END NOMAD SUBLEASE- HUGE TERRACE!

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Try Our Free Search

There are many compelling reasons why companies prioritize having outdoor areas as integral components of their office spaces. Beyond merely providing a venue for client meetings and team events, outdoor terraces serve as versatile spaces for work and relaxation. In the bustling cityscape of New York City, such outdoor areas are highly sought-after yet often scarce. Moreover, the diversity in outdoor spaces is striking—ranging from modest setbacks just sufficient for seating to expansive rooftop terraces spacious enough to accommodate activities like basketball.

The sublease opportunity at 192 Lexington Avenue stands out due to its exceptional offering: a sprawling rooftop space complemented by newly constructed and fully furnished office facilities that are ready for immediate occupancy. The space is built with high end finishes and furniture including 4 meeting rooms, one editing suite with a recording booth, and a large boardroom, with open space for 25+ workstations.This unique combination not only enhances the appeal of the workspace but also provides an unparalleled environment that promotes productivity and creativity.

192 Lex, located at 192 Lexington Avenue, epitomizes modern office sophistication as an elegantly reimagined boutique office building in Midtown South. Standing 17 stories tall, this 140,000-square-foot property underwent a comprehensive multimillion-dollar renovation to meet the exacting demands of today’s tenants. The renovation included an extensive capital improvement program featuring a restored facade, sophisticated up-lighting, enhanced building signage, and a grand double-wide glass door entrance. Inside, a completely redesigned lobby welcomes visitors with soaring 25-foot ceilings adorned with contemporary artwork, including a striking custom mosaic.

The building’s modernization extends to its elevator cabs, mechanical systems, and HVAC units on selected floors, ensuring comfort and efficiency throughout. Notably, the reconfigured penthouse now offers exclusive rooftop patio access, providing breathtaking views of the vibrant NoMad neighborhood. For security and peace of mind, 192 Lex is equipped with a 24-hour security desk manned by on-site personnel, CCTV surveillance, and robust communication infrastructure, ensuring a secure environment with controlled access through tenant secure access cards.

Centrally positioned at the intersection of Lexington Avenue and East 32nd Street, 192 Lex enjoys convenient access to Grand Central Station and all that New York City has to offer. The building’s complete floor pre-builds feature spacious open floor plans flooded with natural light, courtesy of expansive window lines. This prime location and amenity-rich environment make 192 Lex an ideal choice for businesses seeking a prestigious address with state-of-the-art facilities and exceptional outdoor spaces.

Build and Furnished Sublease in Nomad NYC

Sublease Office Space Furnished in Nomad

Office Space Sublease in Nomad NYC for Lease

Building:	192 Lexington Avenue
Availability:	Entire 17th Floor- 6,862 RSF
Rent:	Upon Request
Term:	Approximately 5 years
Condition:	Prebuilt and furnished. 20 workstations, huddle rooms (with room to expand), executive office with assistant reception, conference room, editing suite, pantry, reception

July 5, 2024

NYC’s Newest Office Building for Hedge Funds- 125 West 57th Street

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Visit This Space

Billionaires Row, 57th Street between 7th and 5th Avenues, will soon be delivering a brand new ground up office development that will rival some of Manhattan’s premier office buildings. The block is home to uber luxury tower One57

Alchemy-ABR Investment Partners and Cain International, the owners of 125 West 57th Street, just topped off their 30 story, 172,685 square foot office building. This is exciting because its strategic location on Billionaire’s Row, its panoramic views including of Central Park, and it’s one of the few new construction buildings in Midtown. We recently toured the building with a client and got a pre construction peek of the building.

This is a building that you’d need to visit if you’re looking for trophy office space in NYC.

Outlined below are some of the details worth noting.

OUTDOOR AREA

Terrace spaces facing North on every other floor of the building providing a generous amount of outdoor space.

Massive terrace on the amenity floor for tenant’s use.

AMENITY FLOOR

A luxurious full floor amenity center with a large outdoor area exclusively for tenants’ use.

THE SPACES

Buildings of this caliber are designed to impress and the finishes planned for the office spaces will not disappoint. Ownership will take on the planning and construction to design the perfect layout for tenants and build to an extremely high standard of finishes.

One of the more unique and memorable spaces in the building is an amazing duplex office space with double height (27 foot) ceilings offering a dramatic presence for a discerning tenant.

LAYOUT & FLOORPLANS

The floors at 125 West 57th Street are optimally sized at 10,000 square feet with the ability to lease multiple floors for a contiguous block of up to 172,000 square feet. With the side core and high window to floor area ratio, the floorplates lend themselves to firms with office intensive layouts and more open layouts.

Click here for a confidential and private tour of this space or if you’d like to see other spaces try out our free office spaces search here.

June 6, 2024

Chelsea Arts Tower- Brand New Sublease With Terrace and Water Views!

High End Chelsea Sublease with Terrace and River Views!

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Inquire About This Space

The nicest sublease in Chelsea by a mile. This space is built with high end finishes throughout and includes a private terrace with river views. Built with 3 conference rooms, one phone booth, open area for 16 workstations, and a high end pantry. If you’re looking for a move in condition furnished sublease in West Chelsea then this space must be on your list!

High End Chelsea Hedge Fund Sublease Space

Building:	543-545 West 25th Street
Availability:	Entire 20th Floor- 4,095 RSF
Rent:	Negotiable
Term:	Negotiable
Condition:	Move in condition

May 14, 2024

NYC’s Often Overlooked Market for Class A Office Space

High End 3rd Avenue Office Space- NYC’s Often Overlooked Market

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Try Our Free Search

The first step in working with a new client looking for office space in New York City is establishing search parameters. Frequently, our clients already have a clear idea of their space requirements, so we’re aiming to understand aspects such as budget, desired layout, building profile, timing for occupancy, and their geographic preferences. How far north, south, east, and west should we extend our search? Historically, we’ve confined our search from Seventh or Sixth Avenue to Madison Avenue or occasionally extended to Lexington Avenue, overlooking Third Avenue. There are a few reasons for this, including proximity to mass transit and perception. However, one of the most impactful reasons was the lack of quality buildings compared to Sixth, Fifth, and Madison Avenues.

Recently, however, several buildings on Third Avenue have undergone substantial renovations, revitalizing this previously overlooked commercial corridor into a must-see for tenants seeking value-oriented Class A office space.

As reported, the market for office space in New York is bifurcated, with premier Class A buildings offering amenities leasing at premium rents, while all others experience stagnant leasing activity—a flight to quality. As buildings on Sixth, Fifth, and Madison Avenues lease up and rents increase, tenants still seeking quality are turning their attention to Third Avenue. What they are finding are several buildings with new lobbies, upgraded office spaces, and top tier amenity centers, where rents are 30-40% lower than similar buildings further West. This makes Third Avenue a preferred choice for financial services tenants seeking new office space in the Plaza District and Grand Central submarkets.

Highlighting three of the recently renovated office buildings raising the bar and profile of Third Avenue are:

885 Third Avenue

767 Third Avenue

780 Third Avenue

885 Third Avenue (Lipstick Building)

There are very few buildings that immediately recognizable when viewing the New York City skyline. 885 Third Avenue, also known as the Lipstick Building, is one of those buildings. With its distinct oval shape devoid of sharp angles, three tiers reminiscent of a telescoping tube of lipstick, and distinct color distinguishing it from the grays and blacks surrounding it, the building is already set apart.

The recent renovation by its owner, SL Green, includes a new double story lobby with a grab and go cafe, new elevator cabs, and an upgraded prebuilt program, the building has attracted many new in the financial services, consulting, and law sectors.

885 Third Avenue has several available suites ranging from a 2,700 RSF prebuilt with high end finishes to a full floor of almost 14,000 RSF with amazing 360 degree views that ownership would build to suit. Ownership is motivated to lease space making this one of the best values for iconic Class A office space in NYC.

Contact us here for a private tour of the building and available spaces at 885 Third Avenue.

767 Third Avenue

One of the landlords at the forefront of luxury amenities is Sage Realty. Sage owns and manages several premier office buildings in Grand Central and Plaza District including 747 Third Avenue, 767 Third Avenue, 777 Third Avenue, and 437 Madison Avenue. Sage doubled down on their office portfolio in the midst of the Covid pandemic investing millions of dollars into the buildings including new lobbies, elevators, prebuilt office space, and their biggest differentiator- an amazing and luxurious amenity program. Each of the buildings feature different amenities and aesthetics and are accessible to all tenants within the Sage portfolio. The hub of the amenity program is Oasis an amenity area distinct in its offering and aesthetic. Occupying a full floor Oasis includes a large board room, a lounge with a stocked bar, a screening room, and a sprawling terrace all of which can be rented for a private event or used on demand.

Availability office spaces at 767 Third Avenue range from a smaller 2,745 RSF on the 28th floor with amazing views and natural light to full floors between 7,816 RSF in the tower with views and natural light to 13,607 RSF base floors.

Entire 2nd-5th Floors:	13,607 RSF each
Entire 18th Floor:	7,518 RSF
Partial 28th Floor:	2,745 RSF
Entire 31st Floor:	7,816 RSF
Entire Penthouse:	14,843 RSF (details below)

For firms looking for unique and memorable space, the 14,000 RSF duplex penthouse features 360 degree unobstructed views with an internal spiral staircase connecting the first to the second level. Sage will design and built the space to tenant’s specifications with an option to furnish offering a true turn key space opportunity.

Contact us here for a private tour of the building and available spaces at 767 Third Avenue.

780 Third Avenue

Just up the block from 767 Third Avenue, sitting at the corner of 49th Street and Third Avenue in the Plaza District is another building that has helped raise the profile of Third Avenue- 780 Third Avenue.

Owned by Nuveen, 780 Third Avenue has created a multistory state of the art amenity center dubbed The Gardens. Designed to with tenant’s physical and professional wellbeing in mind, the building features lush greenery from the courtyard into the lobby and flowing (literally) into the lower level amenity areas. The amenity areas feature different workspaces from private conference facilities to an open work lounge, restaurant and coffee bar, and a large full scale fitness center.

The organic and contemporary design follows up the building into the tenant suites with lots of natural wood finishes and large windows drawing in natural light. Availability in the building starts at 2,000 RSF through to 11,000 RSF full floors with a contiguous block of 33,000 RSF.

Partial 15th Floor:	7,889 RSF
Partial 19th Floor:	1,954 RSF
Partial 20th Floor:	4,754 RSF
Partial 30th Floor:	2,350 RSF
Entire 31st Floor:	10,900 RSF
Entire 36th- 38th Floors:	11,249 RSF each

Contact us here for a private tour of the building and available spaces at 780 Third Avenue or to learn more about the building.

May 13, 2024

Manhattan Office Rents- 1Q2024

Manhattan Office Market Update- 1Q2024

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

The Manhattan office space market has never been as dynamic and fractured as it is today. While some submarkets are experiencing an increased vacancy rate and decreased rental rate, others are experiencing a decreased vacancy rate and increased rental rates.

In Midtown, the flight to quality is further widening the divide in asking rents and vacancy rates between Class A and Class B & C properties with the former steadily leasing space and the latter experiencing limited demand. Other notable trends are the shift to smaller built spaces and shorter term leases.

Midtown South, which is predominantly occupied by tech and tech related businesses, has been slower to recover as the tech industry has not yet transitioned back to the office to the degree that service businesses such as law firms and financial services firms have. Despite this slow demand high quality, built, and furnished spaces are leasing.

Regardless of the direction of the market and in which market you look, you can be absolutely sure that you’ll find tremendous value both for fully built and furnished sublease spaces and customizable direct space options.

Hover over the submarkets in the map below to explore Average Rental Rates, Vacancy Rates, and the movement direction for 1Q2024.

Source: Costar, Inc.

NOTABLE
LEASE COMPS

Tenant:	Coinbase
Building:	One Madison
Premises:	Partial 54th Floor- 6,454 RSF
Rent:	Years 1-5: $168.00/ RSF Years 6-10: $178.00/ RSF
Term:	10 Years
Free Rent:	6 Months
Notes:	Landlord is building the space with a contribution capped at $160.00/ RSF.

Tenant:	White Mountain Capital
Building:	650 Fifth Avenue
Premises:	14th Floor- 4,271 RSF
Rent:	Years 1-5: $78.00/ RSF
Term:	5 Years
Free Rent:	6 Months
Notes:	Newly built space

May 8, 2024

When it’s time to move on- How to get out of your office lease in NYC

When its time to move on: How to get out of your office lease in NYC

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Try Our Free Search

About Office Leases

Office leases are contracts that provide tenants with use of office space for a period of time for a fee (rent). Office leases are usually inflexible and have very defined terms for lease termination- typically lease expiration driven. While signing a long term lease provides a tenant with certainty by ensuring they don’t get pushed out of a space or building, and stability by keeping them insulated from market fluctuations, it also comes with a price for those firms whose space needs change over time.

There are many reasons for a private equity firm, hedge fund, or family office to want to exit their office lease including changes in headcount, upgrading to a higher end space, increasing operational efficiency, cost reduction, or moving to another market.

Below are several strategies that Spaces Commercial Real Estate has implemented to help our clients exit thier lease including a lease termination, subleasing, landlord negotiation, and lease renegotiation.

Please note that each situation is unique and we encourage you to consult with a professional before taking any advice.

Solutions

Exercise your option to terminate:

Most tenants sign a lease and file it away without knowing all of the lease provisions. Unbeknownst to many, their lease may provide them with an easy no headache option to terminate the lease. Typically these termination options are one-time options to terminate at a specific date and under certain conditions. Lease language can include: “Tenant shall have the one time right to terminate this Lease upon the 36^th month of the Lease Term by providing Landlord with 180 days notice and a termination penalty equal to unamortized transaction costs.” The more important aspects to consider are the notice date and the cost associated with the termination option. If the costs associated with the lease termination exceed the costs to sublease or the notice period has passed then it could make more sense to pursue another avenue. Options to terminate are the cleanest, but not necessarily the most economical, way for a firm to exit their lease. Click here to schedule a free no obligation lease review.

Pro Tip

Negotiating a longer lease term with a termination option provides tenants with the flexibility of the a shorter lease term with the increased leasing concessions of a longer lease term including increased free rent and tenant improvement allowance.

Sublease your space:

Next to a lease termination, subleasing or assigning an office lease provides the most flexibility to pursue whichever direction you choose for your next office space. Once the space is subleased or assigned, you can move to another space within the same building, to another building in the market, to another country, or close the office altogether. The costs for subleasing space are typically high in a down market (more competition for tenants yielding a lower rental rate) and low in a rising market (higher demand for office space yielding a higher rental rate). Things to consider when subleasing space are the cost of down time while marketing the space, transaction costs, credit risk of the subtenant, and profit or loss on the rent differential.

Connect with Spaces Commercial Real Estate to determine the value of your office space on the sublease market or discuss subleasing your space.

Negotiate with your landlord:

Depending on the situation in the building, the landlord might be interested in working with you to terminate your existing lease and downsize or grow you within the building or the landlord’s broader portfolio of buildings. Alternatively, there may be another tenant on the floor interested in growing and your space is the last puzzle piece for the landlord to accomplish their goal. The most important factor to a successful negotiating is to understand the landlord’s strategy for the building and portfolio as well as market dynamics prior to discussions with the landlord.

Success Story

Spaces Commercial’s team recognized an opportunity for our client to turn their office lease from a liability into an asset, negotiating a seven figure payment from one of NYC’s largest landlord to move from a building that they were looking to reposition, to one of their premiere assets that they were looking to quickly fill.

Renegotiate your lease:

After understanding the building dynamics and landlord’s goals there may be opportunity to accomplish a rent reduction regardless of lease expiration. For example. when a landlord has a loan coming due within the next year or two, they’ll typically look to shore up long term tenancy to maximize the building value. This is an opportunity to trade longer lease term for rent concessions including a base rent reduction, reset of base years, additional free rent, and tenant improvement allowances.

Even if the landlord doesn’t have a near term debt expiration, by outlining the landlord’s cost to retenant the space after your lease expiration you can establish what their bottom line in a negotiation should be. The landlord’s cost should include tenant improvement allowances, free rent, and most importantly their downtime to market, demolish, and rebuild the space for a prospective tenant.

Success Story

Spaces Commercial Real Estate successfully represented a firm looking to downsize from 10,000 RSF to 5,000 RSF. Understanding the landlord’s debt structure within its portfolio of properties, we were able to negotiate for the tenant to move from 10,000 RSF in the landlord’s FiDi building to 5,000 RSF in the landlord’s Plaza District building providing an immediate rent relief and helping the tenant achieve its objective of moving uptown and to a higher grade building.

Pursue all of the above:

The most prudent option would be to explore all of the above options simultaneously to ensure the quickest and most favorable result.

Spaces Commercial has been providing businesses New York, New Jersey, and Miami with customized real estate solutions for their office space for over 25 years. Schedule a call with one of our team members to discuss how we can work with your business to find a solution for your office space.

May 3, 2024

1 Vanderbilt- The Only Remaining Suite for Lease

One Vanderbilt- Last Remaining Suite for Lease

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Inquire About This Space

On the rare occasion that one of the Altus Suites at 1 Vanderbilt comes available we have to blog about because the space is so spectacular and in such high demand that it commands a lot of attention.

The last remaining of the turn key, fully furnished Altus Suites is 6,454 RSF on the southeast corner of the 54th floor of the building. The layout of this suite includes 2 corner executive offices, two standard offices, conference room, pantry, and open space for 15 workstations. Finishes include 10’+ wood and sheetrock ceilings, full height custom office fronts, high end floor coverings, and a beautiful pantry.

Photos and details below.

Click here for a confidential and private tour of this space or if you’d like to see other spaces try out our free office spaces search here.

Building:	One Vanderbilt
Availability:	Partial 54th Floor- 6,454 RSF
Rent:	Upon Request
Term:	3-10 Years
Condition:	Altus Suite (Built and furnished 2 executive offices, 3 standard offices, 1 conference room, open space for 15 workstations, and pantry.

April 18, 2024

MIAMI Spotlight- Off Market Brickell Sublease

MIAMI Spotlight- Off Market Sublease in Brickell

JACK COHEN
SPACES COMMERCIAL REAL ESTATE
212-300-3265
jack@spacescre.com

Try Our Free Search

In highly sought after submarkets like Brickell in Miami, when a quality furnished sublease comes on the market, they often don’t last very long. This sublease is a true “barn find” offering a built and furnished untouched space with an amazing private rooftop terrace.

Conveniently located in the vibrant Brickell submarket, this space measures 8,065 square feet with an additional approximately 5,000 square foot manicured terrace. The space was built in 2019 and was sparsely used with no signs of wear and tear throughout. The space features extended height exposed ceilings, carpeted floors, and is built with a large team/ training room, café style pantry, 2 conference rooms with a folding internal white wall, 3 internal meeting rooms, 1 perimeter meeting room, 3 perimeter offices, and a large open area for workstations. Plug and play sublease opportunities like this don’t come up very often in Brickell even less so in mint condition and with a sprawling terrace.

See photos below and click here to inquire about this space or to schedule an inspection.