NYC Office Space Deals October 2017 2017-11-14T13:32:05+00:00

BEST DEALS ON NYC OFFICE SPACE
OCTOBER, 2017

 

October 2017

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

Best Deals on Office Space in New York City
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"Everything comes if a man will only wait."
 
Benjamin Disraeli,
twice Prime Minister of England
1804 - 1881
 

For years, my clients have asked when are rents going to come down to reasonable levels.  At long last, that time is now, which may be the one positive aspect of the financial turmoil roiling the markets.  Major office space bargains are coming on line and more are sure to follow.  In the coming months you can turn this economic uncertainty into an opportunity to cut your rent substantially.  Let us show you how. 

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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885 Third Avenue (between 53rd and 54th Streets)
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19,270 RSF            High-$60's/SF

Sublease from Stepstone Group LLP.

29 perimeter offices, 36 cubicles, 16 workstations, board room, 2 conference rooms, lounge, pantry, and a reception area.
Ideal for private equity or law firm.
Lease term through July 2026.

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280 Park Avenue (between 48th and 49th Streets)
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8,918 RSF                        $125/SF

Sublease from Ruton Capital.
9 offices, open area for 15+ workstations, conference room, pantry, and a reception area.
Perfect for law firm or private equity.
Lease term through September 2027.

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488 Madison Avenue (between 51st and 52nd Streets)
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7,658 RSF                         $48/SF

Sublease from Grassi & Co.

14 offices, open area for 24 workstations, conference room, meeting room, pantry, and a reception area.
Hedge fund space.
Lease term through August 2022.
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444 Madison Avenue (between 49th and 50th Streets)
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2,970 RSF                      $78/SF

Sublease from Ellis Lake Capital.
3 offices, open area for 6 to 10 workstations, shared access to reception area, boardroom, IT closet, pantry, and storage

Ideal for TAMI firm or broker dealer.
Lease term through December 2020.
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51 West 52nd Street (N/E/C Avenue of the Americas)
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23,767 RSF                         $84/SF

Sublease from BNP Paribas
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12 windowed offices, 20 interior offices, open area with 120 workstations, 4 conference rooms, 4 huddle rooms, Pantry, and a reception area.
Perfect for broker dealer or hedge fund.
Lease term through October 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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1 Penn Plaza (between 33rd and 34th Streets)
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6,380 RSF                      $68/SF

Sublease from The Ergonomic Group, Inc.
10 offices, open area, conference room, pantry, and a reception area.
Creative space suitable for TAMI tenant.
Lease term through September 2020.
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1114 Avenue of the Americas (S/E/C West 43rd Street)
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19,152 RSF                      $65/SF

Sublease from Fronteo USA, Inc.
9 offices, open area with bench seating for 74 people, 5 team rooms with workstations, conference room, meeting room, pantry and a reception area.
Perfect for tech firm, marketing or design.
Lease term through October 2023.
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1345 Avenue of the Americas (between 54th and 55th Streets)
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41,449 RSF                        $45/SF

Sublease from Merrill Corporation.
37 windowed offices, 19 interior offices, open area with 130 workstations, 5 conference rooms, IT closet, and a reception area.

Suitable for hedge fund or other financial institution.
Lease term through December 2024.
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1407 Broadway (between 38th and 39th Streets)
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13,729 RSF                      $55/SF

Sublease from Land's End.
7 offices, open area with 42 workstations, 3 conference rooms, pantry. and a reception area.
Suitable for TAMI tenants or broker dealer.
Lease term through December 2024.
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3 Columbus Circle (between 57th and 58th Streets)
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9,675 RSF                         $79/SF

Sublease from the Juilliard School.
11 offices, open area with bench seating for 33, 2 conference rooms, pantry, and a reception area.
Suitable for hedge fund or broker dealer.
Lease term through April 2025.
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1185 Avenue of the Americas (between 46th and 47th Streets)
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9,369 RSF                         $64/SF

Sublease from King & Spalding LLP.

10 windowed offices, 3 interior offices, open space for workstations, pantry, and a reception area.
Perfect for a law firm.
Lease term through October 2025.
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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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575 Broadway (N/W/C of Prince Street)
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6,747 RSF                          $74/SF

Sublease from Code & Theory.
2 offices, open area, and conference room.
Ideal for TAMI tenant.
Lease term through June 2022.
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200 Fifth Avenue (between 23rd and 24th Streets)
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57,691 RSF             mid-$70's/SF


Sublease from Flatiron Health Inc.
21 offices/breakout rooms, bench seating for up to 480 people, board room, 3 conference rooms.
Ideal for advertising, marketing or any creative user.
Lease term through April 2019 or March 2026.
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33 West 19th Street (between 5th and 6th Avenues)
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11,666 RSF             low-$60's/SF


Sublease from YKR Inc.
6 offices/break out rooms, open space with bench seating for 121 people, conference room, team room, open pantry, and a reception area.
Perfect for TAMI tenant.
Lease term: 2 years.
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275 Seventh Avenue (between 25th and 26th Streets)
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7,525 RSF                          $63/SF


Sublease from Mancini Duffy Architects.
3 windowed offices, 2 interior offices, open area with 32 workstations, pantry, and a reception area.
Perfect for architect or other creative use.
Lease term through March 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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90 Park Avenue (between 39th and 40th Streets)
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13,257 RSF                       $90/SF

Sublease from Foley & Lardner LLP.
4 extra-large corner offices/conference rooms, 5 partner size offices, 17 associate offices, 7 workstations, pantry, and a reception area.
Law firm space.
Term: 3 to 5 years.

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529 Fifth Avenue (S/E/C East 44th Street)
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5,305 RSF                          $55/SF

Sublease from Rosy Blue.
4 offices, open area with seating for 8 to 12, conference room, pantry, and a reception area.
Suitable for hedge fund or finance firm.
Term through June 2023.

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60 East 42nd Street (between Park and Madison Avenues)
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8,137 RSF                          $55/SF

Sublease from Mission Athletecare.
12 offices, open area for 10+ workstations, 3 conference rooms, copy room, IT closet, pantry, and a reception area.

Law firm or finance firm space.
Term through October 2019.

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Downtown / Financial District Spaces
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120 Wall Street (N/W/C of South Street)
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10,419 RSF                      $46/SF

Sublease from Pico Quantitative Trading LLC.
11 offices, open bench seating with 43 seats, 2 conference rooms, pantry, and a reception area.
Works for hedge fund or trading.
Term through March 2021.
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40 Wall Street (between Nassau and William Streets)
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38,744 RSF                         $42/SF

Sublease from The Harry Fox Agency Inc.
26 offices, open area for 140 workstations, 6 conference rooms, 2 pantries.
Perfect for broker dealer or hedge fund.
Term through May 2026.
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61 Broadway (between Exchange Alley and Rector Street)
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1,547 RSF                         $42/SF

Sublease from Furman Kornfeld & Brennan LLP.

3 private offices and bullpen.
Suitable for law firm or accounting.
Term through May 2022.
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200 Liberty Street (between West street and the Hudson River)
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53,545 RSF                     $47/SF

Sublease from Willis Towers Watson.
49 private offices, open area with 164 desk/workstations, 6 conference rooms, 5 team/breakout rooms, pantry, and a reception area.
Works for creative installation, suitable for advertising, marketing or consulting.
Term through September 2026.

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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!

October 2017