New York City – An Office Space Guide

Call us FREE on 0800 1444 106

NewYork City is one of the most important global financial and economic centres with New York office space in high demand.  It’s central business district is one of the three key financial districts, along with Office space London serviced officesLondon,and Tokyo.  The NYSE (New Office space York serviced officesYork Stock Exchange) and NASDAQ stock markets are based in the city’s financial and commercial epicenter, Manhattan. Most of the commercial activity in New York is based in the Manhattan area, which accounts for 66% of all employment in the city of New York.

The City of New York is one of the most expensive areas to own or lease commercial real estate in, not just in North America, but across the globe. Prime rents for New York Office Space can go as high as $115 per square foot for class A space.  In fact according to a report by CBRE, Manhattan has the 21st highest occupancy costs of any CBD (central business district).  Before the banking crisis of 2007, it is likely that Manhattan was in fact higher than this in the global list.

Some of the most popular office space locations in New York City are..

-Chinatown
-East Village
-Financial District
-Garment District
-Gramercy
-Grand Central
-Little Italy
-Midtown
-Murray Hill
-Penn Street Station
-Theater District
-Tribeca
-Wall Street
-Upper East Side
-Upper West Side
-Park West Village

There is a huge variety of office space in New York, principally due to the size and types of company that locate their.  Some smaller companies, but also some corporations prefer to opt for executive suites (known as serviced offices in the Office space UK serviced officesUK).  These are flexible and suit companies that do not want to make a long-term contractual commitment (such as with a conventional lease).  However with New York, and especially Manhattan, being awash with large financial corporations, the most common form of workspace solution is the traditional office space lease. But with companies suffering under the pressure of the global recession, many companies in New York sublet their own office space or look to sublease someone else’s.  This has meant that the City now has a mixture of leased office space, subleased office space and executive suites. Rents have fallen in the last 24 months, allowing some NYC firms to upgrade to either class A or class B space, depending on what standard of office space they had before.

Do you require West End office space, Milton Keynes office space, office space in Nottingham or Leeds office space for your business? See all of our office space locations.