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.
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 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.
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 […]
Third Avenue is typically seen as the low cost alternative to similar quality buildings on Madison, Park, 5th & 6th Avenues. However several buildings on Third Avenue have recently completed major renovations including new lobbies, upgraded finishes in the office spaces, and high end amenity centers making them the first choice for financial services tenants looking for new office space in the Plaza District and Grand Central submarkets.
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.
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.
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.
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.
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.
It’s hard to believe that only a few years ago the neighborhood West of Penn Station was a desolate tract of train tracks-one of the most blighted part of Manhattan. Now standing on the corner of 34th Street and 9th Avenue you see one of the busiest and most diverse areas in all of New York City with the brightest and newest buildings, restaurants, residences, and shops. It’s no wonder that so many of NYC’s top companies have chosen to call Hudson Yards their home. The following are the top available office space in Hudson Yards for hedge funds, family offices, and private equity firms.
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