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.

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

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.