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Office Space for Rent in New York City, NY - 4,634 Listings

New York City, NY - Office Space for Lease

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NYC, NY - Office Market Overview

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New York City is comprised of the Bronx, Brooklyn, Manhattan, Queens, and Staten Island commercial real estate submarkets. These are also the five boroughs of New York City, and make up the entire NYC region. Demand for office space in New York City is among the strongest in the world.

The most recent report from the Office of the New York State Comptroller shows that, as of 2016, there was approximately 550 million square feet of office space in New York City. The commercial real estate market in New York City sees tremendous demand from a variety of business sectors, including the finance, real estate, and healthcare industries.

NYC, NY - Office Inventory Description

With office employment in New York City accounting for about one-third of the 4.3 million jobs in the City, it may come as no surprise to learn that the amount of office space in just the Midtown and Downtown Manhattan business districts of New York City is three times larger than Chicago and twice as large as London. Class A office space in New York City comprises almost 66% of the total office inventory in NYC, bringing over 350 million square feet of Class A or A+ office inventory to New York City's commercial real estate market.

With over 1,500 office buildings in New York City larger than 50,000 square feet, it's difficult to choose favorites.  Some of the more notable office properties in the City include 270 Madison Avenue in the Murray Hill neighborhood, Forty One Madison in the NoMad neighborhood, and Brookfield Place - 200 Vesey Street in the Battery Park City area of New York.

New York City, NY Commercial Inventory Breakdown

Office Spaces

Total: 581,917,099 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 32,152,453 SF / 5.53% of total office
  • 100k to 500k SF: 182,619,960 SF / 31.38% of total office
  • 500k to 1M SF: 132,346,777 SF / 22.74% of total office
  • > 1M SF: 234,797,909 SF / 40.35% of total office

By class:

  • Class A+: 139,804,405 SF / 24.02% of total office
  • Class A: 233,365,614 SF / 40.1% of total office
  • Class B: 164,932,217 SF / 28.34% of total office
  • Class C: 10,025,064 SF / 1.72% of total office

Top 10 Largest Office Buildings

in NYC

Office building Address Sqft Year built
Industry City at Bush Terminal 892 3rd Avenue, 11232 7,050,000 2013
55 Water Street 55 Water Street, 10004 3,642,167 1973
2 World Trade Center 200 Greenwich Street, 10006 3,132,378 n/a
MetLife Building 200 Park Avenue, 10166 3,078,513 1963
15 Penn Plaza 401 7th Avenue, 10001 3,000,000 n/a
One World Trade Center 1 World Trade Center, 10006 3,000,000 2014
111 Eighth Avenue 111 8th Avenue, 10011 2,950,000 1931
50 Hudson Yards 415 10th Avenue, 10001 2,900,000 2022
30 Rockefeller Plaza 30 Rockefeller Plaza, 10112 2,900,000 1932
The Spiral 66 Hudson Blvd, 10001 2,850,000 n/a

Most Recently-Built Office Buildings

in NYC

Office building Address Sqft Year built
Brooklyn Navy Yard - Building 77 63 Flushing Avenue, 11205 1,000,000 2017
Pioneer Building 41 Flatbush Avenue, 11217 260,865 2017
Tata Innovation Center 11 East Loop Road, 10044 230,000 2017
Flushing Commons Office Building 136-35 39th Avenue, 11354 164,000 2017
620 Fulton Street 620 Fulton Street, 11217 132,900 2017
The Jefferson 455 Jefferson Street, 11237 116,800 2017
The Box Factory 1519 Decatur Street, 11385 65,837 2017
2361 Nostrand Avenue 2361 Nostrand Avenue, 11210 50,000 2017
815 Broadway 815 Broadway, 11206 50,000 2017
10 Hudson Yards 501 West 30th Street, 10001 1,754,476 2016

NYC, NY - Green Office Space

Employment

In a commercial real estate market this large, the amount of green office space in New York City is strong and growing.  There are over 1,200 LEED Green, Silver, Gold, or Platinum certifications, including those that are just recently registered.  The 2017 National Green Building Adoption Index reports that, across the top 30 U.S. office markets, the percentage of green office space has grown from less than 5% in 2005 to about 38% by 2017.  That growth is an astounding seven-fold increase in just 12 years.

One of the many examples of LEED-certified office buildings in New York City is the One World Trade Center.  Located in the Manhattan Financial District commercial real estate submarket, this office building was completed in 2014 and brings 3 million square feet of Class A LEED Gold-certified office space to the New York City green office market.

NYC, NY's Top Office-Using Sectors

The New York City commercial real estate and Class A office markets see both national and international demand for office space from the top office-using sectors in New York City of the financial services, high technology, real estate & insurance, and healthcare industries.

  • Financial Services – The New York Stock Exchange and NASDAQ are two of the many representative industry institutions that generate a significant amount of white-collar office employment in NYC.
  • High Technology – Google is just one of the high-tech companies that have offices in the Silicon Alley section of New York City.
  • Real Estate – Some of the most expensive real estate in the U.S. is located in New York City, with commercial real estate brokerages such as CBRE Midtown Manhattan and Colliers International generating demand for white-collar office space in New York.
  • Healthcare – this is NYC’s second-largest employment industry sector, with Bristol Myers Squibb, ImClone Systems, Pfizer, and Regeneron being just a few of the businesses that help drive the commercial real estate market in New York City.

New York City Demographics

Population

  • Total Population8,426,743
  • Male Population(47.6 %) 4,015,044
  • Female Population(52.4 %) 4,411,699
  • Median Age35.80

Income/Financial

  • Average Household Income$85,704
  • Median Household Income$53,373
  • Median Income Under 25$34,542
  • Median Income 25-44$64,169
  • Median Income 45-64$57,639
  • Median Income Over 65$31,615

News

Top 100 US Property Taxes in 2017

Top 100 US Property Taxes in 2017

May 29, 2018

With the 2018 tax filing season now behind us, we decided to follow up on our previous list of top 100 property taxes in the U.S. We once again turned to public record sources, aiming to see if any year-over-year difference in taxes tipped the scales for some of the properties included in our pr...

Study: What to Do with All the Vacant Land in Major US CBDs?

Study: What to Do with All the Vacant Land in Major US CBDs?

May 15, 2018

 

Media iQ Digital Triples Manhattan Office Presence

Media iQ Digital Triples Manhattan Office Presence

April 23, 2018

Media iQ Digital, a global analytics and technology company, is tripling its office footprint in Manhattan. The independently funded organization has decided to leave its headquarters in Greenwich Village and move to a bigger space in the city’s NoMad submarket.