Mansoor
Manhattan is a city that never sleeps. It is known for beautiful places and landmarks. It leads in various fields like finance, culture and entertainment of the world. It is one of the most densely populated cities in New York. At present, office space in Manhattan ranges up to 5 million square feet.
Along with this every day that is some measure taken to widen the office space available because of the increasing demand. Recently, Hudson yards were developed to add to the existing office space. All these places are continuing to have plenty of flexible options like direct lease, sublease etc.
A general estimation of cost
Class A office space is the costliest. The reason is that they are new buildings. But it is worth the price. However, Class B and Class C are no way less in demand.
However, even lower cost is available through office subleasing. And this kind of leasing is directly associated with the current office tenant. However, there may be a lack of assurances that comes from a direct lease. The companies which are in need of flexibility, low-cost and privacy, a co-working office is the best option.
Reports tell that the sale of commercial places went up to an additional of 1 billion dollars when comparing the years 2017-18.
Benefits of office space in Manhattan
The first and the best benefit is the abundance availability of transportation options. Trains, buses, commuter rail, ferry are all available in and around. Most of Manhattan people use public transportation to get to work. Penn Station and Grand Central Station which is located in Manhattan connect it to suburbs as well as major cities.
Bike lanes and City bike stations are also growing day by day in neighbourhoods Manhattan. There is a provision of all details via real estate listings, price floor plans, photos, and comprehensive details about each office space. Top tyre commercial buildings are found in the midtown area.
The three ready options for office space in Manhattan
Professional brokers
You can get the assistance of professional brokers about the details of the location, available facilities, desired square footage, the term of the lease, etc.
Massive commercial space database
You yourself can do the research without anyone’s help. A database search will give you thousands and thousands of option which is updated on a daily basis. It helps you by giving a wider choice and sometimes provides unexpected benefits.
Featured office space
This is a comprehensive and massive database that will feature every office in Midtown, Manhattan. Mid Town- Most of the inventory here is a class a product and the cost is up to 83 dollars for an office in Midtown, Manhattan. You have ample options for transportation. Plaza district – The cost of class A property is 94 Dollars per square foot. Grand Central Station provides the best connectivity.
The average rent in Chelsea is 59 dollars per square foot. You can find most of the big-name companies like Google, Twitter, and YouTube here. In the Financial District, the price ranges up to 53 to 57 dollars per square foot. The island ferries, the east river, and the Path train are available for transportation.
The World Trade Centre provides office space for rent at 67 to 70 dollars per square foot. There are path trains available as well as there is a wide range of connectivity from the World Trade Centre transport hub. Time Square offers office space price is up to 91 dollars per square foot. In Soho, the price for the office space ranges from $77 to $87.
Tribeca gives you an office space at 87 dollars per square foot and the Union Square of 79 dollars per square foot.
The above information can give you a hand in finding out office space in Manhattan.
Nice and informative post, thanks for sharing.