NYC Office Space Deals November 2017 2017-12-07T11:43:03+00:00

BEST DEALS ON NYC OFFICE SPACE
NOVEMBER, 2017

 

November 2017

 
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Subleases Galore
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Newsletter of Wharton Property Advisors, Inc.
November 2017

Best Deals on Office Space in New York City
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"No real estate is permanently valuable but the grave."
 
Mark Twain
 

Bull markets don't last forever, and that is true in real estate as well.  In these turbulent times rents for many offices are dropping.  If you need to dispose of extra space we can help as we are experts in the sublease market, which operates quite differently from the market for direct space.  Alternatively, if you are looking for bargains they are finally coming on line after many years of waiting. 

Always monitoring the market, we scour the available opportunities for bargain properties. If you need assistance dealing with thorny office leasing issues Wharton Property Advisors can help.

Is your lease coming due soon or have you outgrown your space? If so, then Wharton Property Advisors can help. We search NYC for the most advantageous office space situations and then help our clients negotiate favorable terms. Or, if you like your current space we can help renegotiate your lease. We always represent our clients with honesty, diligence and integrity.

Below is a sampling of the best deals now available.

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Plaza District Spaces
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1290 Avenue of the Americas (between 51st and 52nd Streets)
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98,843 RSF            $69/SF

Sublease from Wenner Media.
102 offices, 346 bench seating/workstations, 4 conference rooms, multiple pantries, video studio, and a reception area.
Creative high-density installation, suitable for marketing or advertising.
Lease term through June 2027.

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1301-1315 Avenue of the Americas (between 52nd and 53rd Streets)
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21,271 RSF                        $75/SF

Sublease from Norton Rose Fulbright.
9 partner offices, 21 associate offices, 3 counsel offices, 10 support workstations, 2 meeting rooms, large cafeteria, reception area.
Perfect for law firm.
Lease term through March 2032.

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400 Madison Avenue (between 47th and 48th Streets)
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3,513 RSF                         $75SF

Sublease from Envirotainer.
1 office, open area for 12, conference room, breakout room, copy/fax room/ pantry, and a reception area.
Hedge fund space.
Lease term through October 2022.
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444 Madison Avenue (between 49th and 50th Streets)
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5,455 RSF                      $74/SF

Sublease from City Financial.
Open area with 30 trading stations, 2 conference rooms, open pantry, IT room, and a reception area.

Ideal for hedge fund or broker dealer.
Lease term through May 2026.
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555 Madison Avenue (S/E/C East 56th Street)
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5,829 RSF                         $78/SF

Sublease from CC Capital
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6 offices, open area with 4 workstations, 2 conference rooms, pantry, and a reception area.
Perfect for private equity or law firm.
Lease term through January 2021.
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1776 Broadway (N/E/C West 57th Street)
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3,375 RSF                      $65/SF

Sublease from Clarion Research, Inc.
6 windowed offices, 3 interior offices, open area for 4, conference room, pantry, and a reception area.
Suitable for marketing or law firm.
Lease term through December 2020.
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Penn Plaza / Times Square Spaces
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729 Seventh Avenue (at 49th Street)
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Cubicles available

Sublease from a prestigious foundation.
Will sublet all or part of available space.
5 workstations/cubicles available.
Shared access to 20 seat conference room, 10 seat conference room, 6 seat conference room, kitchen and reception/services area.
Unique opportunity for a nonprofit, foundation, law firm or any office tenant.
Lease term: 1 to 6 years.
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1251 Avenue of the Americas (between 49th and 50th Streets)
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11,096 RSF                      $65/SF

Sublease from TCW Group, Inc.
14 windowed offices, 3 interior offices open area for 12, workstations for 10, conference room, storage, pantry, and a reception area.
Suitable for law firm or accounting.
Lease term through February 2022.
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1166 Avenue of the Americas (between 49th and 50th Streets)
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39,075 RSF            mid-$40's/SF

Sublease from Informa Group.
3 corner offices, 34 windowed offices, open areas with over 150 workstations,5 conference rooms, pantry, and a reception area.
Perfect for tech firm, marketing or design.
Lease term through December 2020.
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1407 Broadway (between 38th and 39th Streets)
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1,915 RSF                        $67/SF

Sublease from CBC Advisors.
Open space with a conference room.
Suitable for hedge fund or trading.
Lease term: 1 to 2 years.
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350 Fifth Avenue - The Empire State Building
(between 33rd and 34th Streets)
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7,400 RSF                        $58/SF

Sublease from Salesforce.com, Inc.
1 executive office, 4 offices, open area with 24 seats, 3 conference rooms, pantry, and a reception area.
Suitable for hedge fund, broker dealer or TAMI.
Lease term through November 2020.
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Midtown South Spaces
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531 West 25th Street (between 10th and 11th Avenues)
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2,800 RSF                        $50/SF

Sublease from MediaBend Capital Inc.
Beautiful turnkey sublet space in prime Chelsea District, next to the High Line.
4 offices and open area.
Shared reception area with glass entry doors into separate spaces, shared pantry and restrooms. Space is furnished.
Ideal for new media, creative, advertising or fashion use,
Lease term through September 2021.
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113-133 West 18th Street (between Sixth and Seventh Avenues)
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11,800 RSF                        $58/SF

Sublease from Pratt Institute.
8 offices, open area for 125 seats, conference room
Ideal for TAMI tenant.
Lease term through November 2020.
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71 West 23rd Street (N/E/C of Sixth Avenue)
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13,000 RSF                        $59/SF


Sublease from Brightpoint Health.
4 executive offices, 2 large offices, 13 standard offices, open area for 29 people, boardroom, pantry, and a reception area.
Ideal for marketing or finance firm.
Lease term through January 2024.
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229 West 28th Street (between Seventh and Eighth Avenues)
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12,786 RSF                       $60/SF

Sublease from Noom, Inc.
Large open area with seating for 80+, 8 meeting rooms/offices, conference room, yoga studio, fully equipped professional demo kitchen and eating area, three phone booths, bike storage.
Perfect for TAMI tenant.
Lease term through August 2022.
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Grand Central Area Spaces
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6 East 45th Street
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4,674 RSF                        $32/SF

Sublease from Adeptus.
6 offices, open area, conference room, kitchen, private restrooms, and reception area.
Ideal for accounting, law firm or any office use.
Term through December 2018.
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420 Lexington Avenue (between 43rd and 44th Streets)
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917 RSF                         $61/SF

Sublease from Beni Internazionali USA Inc.
1 office, conference room, pantry, and a reception area.
Ideal for accounting or any office use.
Term through February 2020.
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500 Fifth Avenue (N/W/C West 42nd Street and Fifth Avenue)
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10,914 RSF           high-$40's/SF

Sublease from Kanematsu.

5 offices, open area seating for 22, 2 conference rooms, large pantry, and a reception area
Perfect for hedge fund or broker dealer.
Lease term through January 2025.
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521 Fifth Avenue (between 43rd and 44th Streets)
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6,580 RSF                       $55/SF

Sublease from Kinderhook Industries.
3 executive offices, 8 offices, open area with 6 workstations, 2 conference rooms, storage, IT room, storage, pantry, and a reception area.

Law firm space.
Term through June 2020.

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630 Third Avenue (S/w/C East 41st Street)
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14,242 RSF                          $49/SF

Sublease from ICF International, Inc.
14 offices, open area with 18 workstations, 3 conference rooms, IT closet, copy/storage room, pantry, and a reception area.
Suitable for hedge fund or finance firm.
Term through January 2023.

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Downtown / Financial District Spaces
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1 Battery Park Plaza (between State, Pearl, Bridge & Whitehall Streets)
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6,445 RSF                      $54/SF

Sublease from Novetta.
6 private offices, open space for 34, 2 conference rooms, pantry, and a reception area.
Suitable for hedge fund or trading.
Term through April 2021.
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120 Broadway (between Pine and Cedar Streets)
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2,944 RSF                         $40/SF

Sublease from Telco Experts LLC.
4 offices, open area with seating for 8, storage room, copy/fax room.
Perfect for tech firm.
Term through October 2021.
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140 Broadway (between Cedar and Liberty Streets)
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26,206 RSF                      $58/SF

Sublease from Misys.
11 windowed offices, 2 interior offices, open area for 93 people, 8 huddle rooms, conference room, boardroom, pantry, trainng room, storage, and a reception area.
Suitable for TAMI tenant.
Term through June 2025.
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180 Maiden Lane (between Front and South Streets)
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32,177 RSF                     $39/SF

Sublease from Stroock & Stroock & Lavan LLP.
12 partner offices, 32 associate offices, 9 interior offices, 3 conference rooms, storage room, pantry, and a reception area.
Law firm installation.
Term through May 2023.

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100 William Street (between Platt and John Streets)
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6,098 RSF                     $47/SF

Sublease from PGi.
Open are for 40 people, 2 conference rooms, 2 huddle rooms, pantry, and a reception area.
Suitable for hedge fund or broker dealer.
Term through September 2024.

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Contact Ruth Colp-Haber at
212.759.0408
ruth@whartonproperties.net
for more details about these spaces and other opportunities.

www.whartonproperties.net
Wharton Property Advisors, Inc. helps NYC office tenants find and dispose of office space. We provide the full range of commercial real estate services. Finding and negotiating great deals is our specialty. Moreover, we represent our clients with intelligence, honesty and diligence!

November 2017