New York City, NY Office Space for Rent
The New York office market consistently ranks among the top global investment destinations. One of the oldest financial centers in modern history, the city on the Hudson boasts an office sector with strong fundamentals and appeal. Regardless of the economy's highs and lows, office space for lease in New York City remains in high demand. Traditionally occupied by enterprises in insurance, trade, finance, and professional services, New York office space has evolved to embrace the creative, new media, and tech sector entrepreneurs. The Big Apple is always ready to accommodate businesses of all needs and sizes.
See our listingsRecently added office space listings
Our listings inventory of office space for rent in New York incorporates 6,496 spaces, which encompass 81,779,633 square feet of office space across all asset classes. Out of the total number of office properties with locally listed vacancies, 114 are trophy grade buildings, and 177 are LEED-certified. Rent rates vary significantly across listings, starting at $8.33 per square foot per year and averaging $75.19 per square foot per year.
WeWork Building
Office
11 Spaces / 448,627 Sqft
Brooklyn Army Terminal - Flex
Office
8 Spaces / 408,000 Sqft
Brookfield Place
Office
7 Spaces / 310,283 Sqft
14 53rd Street
Office
16 Spaces / 309,614 Sqft
28 Liberty
Office
11 Spaces / 300,811 Sqft
55 Water Street
Office
5 Spaces / 274,215 Sqft
Brookfield Place - 200 Liberty Street
Office
7 Spaces / 269,480 Sqft
Hudson Commons
Office
13 Spaces / 213,520 Sqft
One Grand Central Place
Office
20 Spaces / 180,033 Sqft
New York City Office Space Market Stats
Even though Manhattan remains the point of densest market concentration, the outer boroughs have also been seeing changes and increase in office development, as they absorb the overflow of demand from the central business district and compensate for what Manhattan most often lacks — office space in big blocks.
Office space for rent in New York totals 81,779,633 square feet across all property classes. There are 6,496 spaces for lease on the market, ranging in size from 77 square feet to 1,800,000 square feet. The average rate for office space across New York is $75.19 per square foot per year.
Properties with locally listed spaces include 599 class A commercial properties, and 114 that are class A+. The average rent for class A office space in New York is $71.34 per square foot per year, while class A+ rentals command $94.58 per square foot per year. The average rent for class B office space is $61.99 per square foot per year, while rents for class C property average $48.60 per square foot per year.
Commercial real estate news
From our blog
First National Realty Partners Acquires N.J. Office Building
April 30, 2020
Real estate investment firm First National Realty Partners recently announced the purchase of The Coastal Building in Red Bank, NJ. The property will add 29,178 square feet of Class A Jersey Shore office space to the company’s portfolio.
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Amazon Expands Presence in Baltimore-D.C. Commercial Corridor
April 24, 2020
Cushman-Wakefield completed the $91 million sale of Techwood Business Center in Hanover, Md., on behalf of the seller, RREEF Management LLC. Amazon was the buyer in the deal, adding the Baltimore business park to its expanding portfolio in the state of Maryland.
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Charlotte’s Hearst Tower Changes Hands in $446M Deal
April 14, 2020
Atlanta-based Cousins Properties has completed the sale of Hearst Tower. The Uptown Charlotte office property changed ownership to locally based Truist Financial Corporation. Commanding a gross price tag of $455.5 million, the building sold for roughly $470 per square foot.
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