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Office Space for Lease NYC

Finding office space in New York City is more difficult than you might think. If you want to make sure it gets done right, use a tenant rep. We have some great ones and we'd like to help and help for free!

When it comes to office space in New York City, it is a tale of 5 boroughs. Manhattan, Brooklyn, Queens, the Bronx, and Staten Island all offer different styles of space for different types of businesses. Manhattan, with its 430 million square feet of office space is, of course, one of the best known office space markets in the world. The other 4 boroughs also present special opportunities to businesses looking for office space within New York City.

As is well known, New York City’s Midtown Manhattan has the most expensive office space in The City, not to mention among the top 5 in the world. Queens is a little less expensive, but still on the pricier side. Less expensive office space can be found in the Bronx, Brooklyn and Staten Island. Essentially, the closer that you get to the city center, the more expensive the office space is going to be.

So, what is the best way to go about securing office space for lease or rent in New York City? The first thing you should do is take a hard look at what you think you need. Talk with trusted employees to get their feedback. Take into consideration travel times of clients or potential clients, employees and decide where you are most likely to be able to attract the most talented future employees. That is assuming you want to grow our business. The second step is in finding a qualified local office space tenant rep. That is where we can help. What a tenant rep will do for you is to fine tune your needs and wants and compare them with the market realities. From there, together, you can make a plan on how you can achieve what you are looking for in an office.

There is no cost to you for working with a tenant rep. Just like residential real estate they will share in the commissions already set with the listing brokers. You get the benefit without the cost.

If you are looking for New York City office space for rent, lease or sale, let us know by completing the short form on this page. We will have a top LOCAL office space tenant rep contact you right away. There is no obligation, no cost and nothing to lose.

New York Office Space Markets

What rapidly growing firm has not considered at one time or another the desirability of having offices in New York City? Not all make the move, but enough have done so to give New York City the most total office space of any U.S. city--some 4.5-million square feet. Although, in general, the vacancy rate tends to be low, it fluctuates with the economic cycle so that, for example, just after the "Great Recession" of 2008 was a favorable moment to seek a bargain on purchase or rent.

Certainly, rentals and sales in the city are high-priced—in some areas sky-high--compared with other cities. And so, the question, and budget calculation, always tends to be: Is it worth? Does the investment in real estate payoff. Can the growth in business and the lifestyle for our employees make the move worthwhile?

America's most populous city (including the five boroughs, not just Manhattan) speaks an estimated 800 languages, has a library (the New York Public) with 50 million books, has a bridge (the Brooklyn Bridge) 12 years older than the Tower of London, has the largest gold storage in the world in vault under the N.Y. Federal Reserve Bank, has 380,000 millionaires, invented the ice cream cone and Eggs Benedict, has Albert Einstein's brain and eyeballs stored in a box, and has no law against women going topless.

Top that, so to speak.

Business benefit of a NYC Office Space for Lease

No, what we are asking, when you cast an eye on New York City and imagine your new office space there is what the city offers your business. We know the cost will be high, so what are the comparable benefits? Almost all, when broadly considered, relate to size itself. The well-known effects of "urban density" are apparent everywhere. The country's single wealthiest metropolis makes possible (and necessary and affordable) a comparable wealth of transportation, cultural institutions, academic medical centers, international news organizations, America's publishing capital, world-class cuisine of every ethnic type, the country's largest airport system—actually, you name it, New York City has it.

To take a few particulars vital to a business's supply of workers, availability of professionals such as lawyers and accounts, flow of customers/sales, ease of shipping, and attraction to top talent:

Human capital:  Pulsing with the energy of almost 9.0-million people, with famous universities from Columbia to NYU to Fordham—and as a legendary magnet for the talented and ambitious worldwide--New York City has the human resources to match the needs of a startup, an international bank, a new manufacturing plant, or any professional or creative firm of any size.

Apart from resources of general higher education (and any calculation of that resource must include proximity of New England's premier colleges and universities), the city draws for the globe men and women seeking unbeatable specialized education in medicine, advertising and marketing, journalism, music and theater, architecture, and an infinity of others.

Given the density of Manhattan, many of a business's employees will live within walking distance of work—and be delighted with the new neighborhood and apartment. Otherwise, employers rely on the transportation that brings millions of commuters to work every day from the boroughs, Long Island, New Jersey, and Westchester.

Concentration of leading industries: No industry, or company, is an island. Its suppliers, service providers, shippers, marketing and advertising outlets, and customers are the arterial system that nourishes it. New York City arguably is the economic capital of the world, the most influential market anywhere and the most interconnected.

Most prime business sectors have large office complexes (and other facilities) in New York. From Wall Street to Madison Avenue can be found clusters of firms of world prominence in various industries. Foremost are finance, trade, healthcare, real estate, media, publishing, manufacturing, and information technology. Retail trade and education probably belong on this list; journalism merits mention within the broader class of media.

This intense concentration of certain pivotal industries exerts influence on a national and global scale. That should not be a surprise. If New York City were an independent, sovereign nation its economy would be the 15th largest on the globe.

Health care:  Among these industries, we should single out health care as an asset to any prospective business. More than half-a-million New Yorkers are employed in health care, among them 60,000 physicians. As a center for biomedical research and specialized medical services of every stripe, the city boasts 130 Nobel laureates in the medical arena alone. That is called a "concentration"!

Understandably, a business's employees, including top talent reaching their 50's and 60's, view availability of resources needed to stay healthy and active as a requirement, not a perk, of their employer's location.

Availability of finance: The investment capital centered in New York City, generating more than $1 trillion in value every year, does its work worldwide. But, with the NASDAQ and the New York Stock Exchange in Manhattan—and an almost endless roster of banking institutions (Bank of New York Mellon, Bank of American Merrill Lynch, and Bank of the United States, to name but three)—no business can get much sympathy complaining about lack of potential sources of new capital. Not only the size, but the sheer number, breadth, and variety of financial institutions make this world capital of finance the place to grow and leverage growth.

Information technology: Doubtless the dependence of a firm on information technology diverts its glance to California for a possible move or expansion, but if California has Silicon Valley, then Manhattan has Silicon Alley, home to both fresh and promising and already large digital media, data security, software development, and game design. Google stirred a brief political storm early this year when it arrived to occupy a 300,000 square-foot space in Manhattan. For several years, at least, venture capital over $2.0-billon for IT has been raised in the city.

Yes, manufacturing:  Some may not readily associate New York City with manufacturing as readily as with finance, say, or advertising. But at a time when manufacturing of goods is still emerging from a difficult period in much of America, producers are still operating in New York City. Among the areas of focus are processed foods, apparel, chemicals—to take but a few examples. Manufacturing, in fact, is a source of both jobs and growth for New York, not least boutique sector of manufacturing.

Transportation: With markets for firms of all sizes going increasingly global, shipping has become virtually synonymous with selling. If your business is in New York City, how will the goods move—and how easily? "On the ground," so to speak, the arrival and departure of goods from New York City is continuous, intense, and demanding of strong scheduling other logistics. But all the needed transportation is not only there, but there in abundance from among the world's most active international ports in New York and New Jersey, to one of the world's largest airport systems, to an elaborate network of bridges, tunnels, and ferries connected to the interstate highway system. On average, some nine million New Yorkers, not to mention businesses, receive several packages every week—a total of many millions of pickups and deliveries—and sending is on the same scale.

The Big Apple Bet

This overview of New York's overwhelming advantages for businesses at every stage of development leaves out far more—and more of the same breathtaking magnitude—as it includes. The greater the vitality and promise a business brings to the city, the more the city's resources will tell for the business's future.

To buy or rent office space in NYC AKA the Big Apple (a nickname that has resonated with New Yorkers ever since Mayor Ed Koch used it) is to risk investing in the unlimited potential for success.

Inescapably, it is a decision to shoot for the "big time." But hey, fella, that's New York!  

Be sure to check back with us, for all your information, insights, and updates on office sales and rentals in New York City. And don't hesitate to contact us if you need office space in NYC. Since 1995, we have assisted more than a quarter of a million businesses and are here with the help you need to obtain the best deal possible and avoid costly mistakes for your office in New York City or anywhere else in the US or Canada. 

Useful Statistics for businesses looking for office space in New York City
  New York City NY State
2020 Estimated Population 8,379,552 19,514,849
Median Age 36.9 39.0
Occupied 1,048,262 4,014,516
Owned 2,923,365 10,781,025
Rented 5,170,684 7,949,997
Average Household Size 2.57 2.55
Rental Vacancies 75,800 143,648
Homeowner Vacancies 19,641 60,964
Median Home Value $635,200 $325,000
Median Monthly Rental Cost $1,489 $1,315
Median Household Income $34,386 $35,379
Individuals below poverty level 784,582 1,527,076
Educational Attainment: High school graduate 1,399,627 3,474,389
Educational Attainment: Some College 1,189,516 3,318,086
Educational Attainment: Bachelor degree or higher 1,340,776 2,854,930
Commute 1,050,535 5,415,544
Commute by car, truck or other vehicle - Drive Alone 875,528 4,822,623
Commute by car, truck or other vehicle - Carpool 175,007 592,921
Use Public Transportation 2,072,840 2,418,334
Work from Home 290,418 634,197
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