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New York Office Space Market Overview

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New York office space can allow you to open operations in one of the prime markets in America. Whether you already have a business and are seeking to lease a larger office or are expanding into the New York City area, you’ll find this is truly the “city that never sleeps”.

New York City is comprised of the five boroughs. Manhattan is one of these but there’s also Queens, Brooklyn, the Bronx, and Staten Island. Together, these make up the Greater New York City Metro area. Manhattan is often thought of as the heart of the city and houses the financial district.

New York offers the widest variety of cultures and potential markets of any U.S. location. There is a need for services and products of every possible type in this huge metro area.

Reports from early 2011 show that the Manhattan office market is sound and up slightly from last year. There is still plenty of available office space for lease, comprised of every possible office type from serviced suites to traditional storefronts. Rent remains stable but with vacancy rates, there may be a little room for negotiation.

South Manhattan’s leasing in the final portion of 2010 outshined any period in the last five years and this trend has continued into early 2011. This portion of the central market offers over 65 million square feet of space and 12.5 million are available for rent at most any given time. Rent is averaging in the low $40 per square foot range, slightly up from last year.

The outer boroughs are just as healthy but prices are lower. There’s always a premium involved with leasing office space in the center of Manhattan, so if your service lends itself well, you might consider locating in the boroughs.

New York is a dream place to live. There’s always plenty to do and see.  There are communities of every culture from around the world and you’ll find great educational opportunities for your children. While traffic congestion can be frustrating, New York has the best mass transit system available and taxis are affordable.

Housing in Manhattan is hard to find and very costly but there are tons of housing options in the boroughs from traditional homes to studios. Whatever type of housing you love, you can find it in the New York area. Older properties that have been restored have a special charm but ultra-modern housing is also readily available.

Overall, New York office space for lease can give your employees a great place to work and a unique area in which to live. Raising a family in the NYC area lets a parent offer much more than most areas. You’ll join the millions that already say they love New York.  You can find help locating the right New York office space for rent by contacting OfficeFinder, a free service to help you in your office location process.

Manhattan / New York Office Market Iformaion

Other New York Office Markets

 

Manhattan Office Space , New York Office Space

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