Where Did Manhattan’s Vacate Office & Loft Space Go?

Tenants in the market to relocate or acquire expansion space in New York City are usually surprised to learn how limited vacant office space in Manhattan really is. On top of that, they are often surprised at how rent rates have climbed significantly. After dipping during the recession, NYC commercial rental rates are now approaching their 2007 peak and there is now a scarcity of reasonably priced vacant office space in Manhattan. As recently as late 2011, there was still a pretty good selection of vacant office space in Manhattan. Much has changed in a year. Due to increased scarcity and higher pricing, the commercial real estate market by late 2012 had become challenging for businesses seeking space. Supply-and-Demand Dictates Rent… Continue reading

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How to Secure the Best NYC Retail Space

Are you looking to rent NYC retail space for a store, boutique or restaurant? You probably already are aware that Manhattan retail rents are much greater than in other U.S. cities, with asking prices as high as $1,000 per square foot for retail space in a high-traffic avenue location. Strong Demand in SoHo & The Plaza District Two of the most desirable retail corridors in Manhattan are located in The Plaza District, at Fifth Avenue between 49th and 59th streets, and in SoHo, on Broadway. Luxury brands such as Bergdorf Goodman, Louis Vuitton and The Apple store have large stores on Fifth Avenue in the high 50s, and prestigious national chains such as Hugo Boss, Steve Madden, Sephora and Kenneth Cole… Continue reading

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NYC Office Space: Class A Space for Under $40/SF?

The finest commercial properties in Manhattan are Class A office buildings. Public corporations, large law firms and financial services companies tend to gravitate to these buildings as tenants who are willing and able to pay higher costs. Rent for Class A office space in NY includes the amenities and prestige that these buildings offer. Certain Class A buildings also list small spaces that are less than 1,000 square feet, so it is possible to relocate to these upscale building even if you are not a Fortune 500 company in the market for a full floor. Class A Office Space in NY Provides Prestige New York City tenants who sign leases for office space in Class A buildings enjoy 24/7 attended… Continue reading

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Posted in Manhattan Office Space.