Greenwich Village is not generally thought of as an office rentals district. But it does have 4 Class A office properties, 30 Class B, and 52 Class C, and for the right companies the area can't be beat.
There is little vacancy in the Class A and B ranges, with Class B properties averaging $54.94 per square foot. Class C, with a 3.5% vacancy rate, averages $46.96.
Greenwich Village emerged in the early 19th century as an affluent residential community--a well-to-do suburb, really, of New York City. In the late 19th and early 20th centuries "the Village," as the neighborhood is known, became home to many European immigrants, especially Italians, as well as to home-grown bohemians, artists, rebels, and their hangers-on. It was a place of little theaters, little magazines, bookstores, and cafés, of jazz and folk music. Greenwich Village was synonymous with avant-garde art and progressive politics.
Once upon a time, long before Starbucks, if you wanted espresso or cappuccino, you had to go to Greenwich Village.
The Village still clings to its old identity, but you're as likely to find a hedge fund manager living in the neighborhood today as a poet or a painter. The quaint charms of Greenwich Village began to appeal to many different kinds of people, and residential rents and the prices of houses shot up to near the top in the city.
Greenwich Village boasts superb transportation: The Eighth Avenue, Seventh Avenue, Sixth Avenue, Broadway, and East Side IRT lines all serve the Village. So too does the crosstown L train along 14th Street.
The biggest employer by far in Greenwich Village is world-class New York University, the largest private university in America. The main campus of NYU is clustered around the recently refurbished Washington Square, where the university was founded in the 1830s. In recent years, NYU has grown dramatically, and the main campus now stretches up to Union Square. The New School, Parsons School of Design, and Cooper Union are other important institutions of higher learning in Greenwich Village.
Washington Square divides the East Village from the West Village. The East Village was home to beatniks in the 1950s and hippies in the 1960s, and has now gone upmarket. On the Bowery, Whole Foods Market and boutique hotels have replaced flophouses and dive bars. The West Village, toward the Hudson River, is something out of a storybook, with short, twisting streets and quaint row houses from the early 19th century.
One famous Greenwich Village office building is the Forbes Building on Fifth Avenue at 12th Street. Built for the Macmillan publishing house in 1923, the building has been home to Forbes magazine since 1965. Book and magazine publishers are among the types of firms attracted to the Village.
Main New York City office space areas include Sixth Avenue and Broadway, and University Place and Union Square. Many architecture firms, including Beyer Blinder Belle and the Rockwell Group, call the Village home, and are inspired by the beautiful historic architecture and wonderful streetscapes of a highly individual neighborhood.
As you would expect, amenities abound. The Village boasts some of the finest restaurants in America. Hudson Street and Bleecker Street offer one-of-a-kind shopping. And Greenwich Village is still the place to go to for jazz—and a cup of espresso.
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