Office space deals July, 2017 2017-08-10T14:33:09+00:00

BEST DEALS ON NYC OFFICE SPACE
JULY, 2017

July 2017

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

Best Deals on Office Space in New York City
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"The businessperson who tries to negotiate their own lease has an imprudent client."

Loosely adapted from "He who is his own lawyer has a fool for a client"

For the first time in a decade New York City office tenants are now in the driver's seat and landlords are willing to lower rents significantly. However, don't be fooled that you can make the best possible deal without proper representation. In order to negotiate an aggressive lease, any tenant should canvass all opportunities so that they are prepared to press the landlord for the best deals.

When meeting with a landlord the best leverage is to have an agent who knows the market and the intricacies of the business and who is seeking alternative space on your behalf.
 
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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630 Fifth Avenue
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1,835 RSF        $86/SF

Sublease from MNG Ventures.
2 offices, open area, conference room, pantry, storage closet, IT closet.
Perfect for investment firm or hedge fund.
Lease term through May 2021.

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375 Park Avenue
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2,383 RSF        $150/SF

Sublease from Onexim.

1 office, open area, conference room, private restroom, pantry and reception area.
Perfect for private equity or financial advisor.
Lease term through February 2021.

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444 Madison Avenue
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15,468 RSF        $64/SF

Sublease from Burberry.
3 offices, open area with bench seating for 70, 4 conference rooms, pantry, and reception area. Access to private terrace.
Perfect for broker dealer or TAMI tenant.
Lease term through March 2024.

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535 Madison Avenue
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9,493 RSF         $140/SF

Sublease from Vinci Partners.
1 office, large open area with bench seating for 35, 3 conference rooms, 2 meeting rooms, server room, storage, cafe/lounge, and reception area.
Suitable for private equity or hedge fund.
Lease term through January 2024.

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1345 Avenue of the Americas
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11,839 RSF        $55/SF

Sublease from BBVA.
15 offices, open area, 2 large conference rooms, 2 medium-sized conference rooms, 2 call rooms, pantry, and reception area.
Suitable for hedge fund or broker dealer.
Lease term through May 2022.
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Penn Plaza / Times Square Spaces
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729 Seventh Avenue
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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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135 West 50th Street
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6,670 RSF        $39/SF

Sublease from Executive Health Exams.
4 offices, large bullpen, conference room, break-out room, IT closet, copy room,
 pantry, and reception area.
Perfect for broker dealer or hedge fund.
Lease term through December 2019.
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1407 Broadway
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13,729 RSF        $58/SF

Sublease from Land's End.
7 offices, open area, 3 conference rooms, pantry, and reception area.
Ideal for broker-dealer or TAMI tenant.

Lease term through December 2024.
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1441 Broadway
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21,711 RSF        $53/SF

Sublease from Kellwood Apparel.
15 offices, open areas, conference room, 3 showrooms/conference rooms/open areas, pantry, and reception area.
Perfect for fashion industry or other creative use.
Lease term through February 2020.
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1500 Broadway
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15,929 RSF        $64/SF

Sublease from Videology.
11 offices, large open area, 3 conference rooms, 4 call rooms, large pantry/lounge area, and reception area.
Perfect for tech firm or trading floor.
Lease term through June 2023.
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5 Bryant Park
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15,000 RSF        $65/SF

Sublease from PlaceIQ.
2 offices, open area, 4 meeting/conference rooms, unique bleacher area for company meetings/events, 2 phone booths, IT room, storage, 2 pantries, and reception area.

Perfect for tech firm or other creative use.
Lease term: 1 to 3 years.
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1040-1048 Avenue of the Americas
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4,250 RSF        $53/SF

Sublease from Boy Scouts of America.
7 offices, open space, conference room, pantry, and reception area.
Perfect for law firm or accounting.
Lease term through October 2024.

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Midtown South Spaces
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345 Seventh Avenue
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6,000 RSF                        $50/SF

Sublease from Wilson.
8 offices, open space, 2 conference rooms, pantry, and reception area.
Ideal for TAMI tenant or broker dealer.
Lease term through February 2020.
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2 Park Avenue
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28,319 RSF                        $58/SF


Sublease from Herrick Feinstein LLP.
31 windowed offices, 11 interior offices, 4 interior multi-person support offices, open areas with 24 workstations, 24-person conference room, 12-person board room, 8 person conference room, pantry, and reception area.
Perfect for law firm.
Lease term through September 2025.
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51 Astor Place
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7,069 RSF                     $105/SF


Sublease from Spark Capital.
8 offices, open area, 4 conference rooms, pantry, and reception area.
Suitable for law firm or finance firm.
Lease term through July 2022.
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475 Park Avenue South
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8,170 RSF        $39/SF

Sublease from Integro Insurance.
15 offices, open space, conference room, pantry, and reception area.
Suitable for law firm, accounting or finance.
Term through August 2019.
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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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747 Third Avenue
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1,775 RSF        mid-$60's/SF

Sublease from ACF Investment Bank,
1 office, open area, conference room, IT closet, and reception area.

Suitable for trading firm or hedge fund.
Term through August 2020.

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420 Lexington Avenue
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2,802 RSF        $60/SF

Sublease from The Talent Mine, Inc.
4 offices, bullpen, conference room, server closet, coat storage/closet, pantry, and reception area.
Suitable for law firm, accounting or hedge fund.
Term through May 2023.

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Downtown / Financial District Spaces
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55 Broadway
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10,370 RSF        high-$30's/SF

Sublease from Crawford & Company.
18 offices, open area, 2 conference rooms, copy/storage room, storage room, IT closet, pantry and reception area.

Perfect for law firm or accounting.
Term through June 2020.
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61 Broadway
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2,497 RSF        $42/SF

Sublease from Daiichi Chuo Shipping (Americas) Inc.
Open area, conference room, pantry, and reception area.
Perfect for marketing, advertising or any creative use.
Term through December 2022.
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111 Broadway
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6,033 RSF        $45/SF

Sublease from Jeffery Rudes.
9 offices, open area with 10 cubicles, conference room, storage room, print/copy room, IT room, pantry, and reception area.
Suitable for law firm or accounting.
Term: negotiable.
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225 Liberty Street
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43,374 RSF        $49.50/SF

Sublease from Sedgwick LLP.
20 partner offices, 28 associate offices, 7 paralegal offices, 16 workstations, 2 conference rooms, media/training room(seats 46), 2 server rooms, 7 storage rooms, 2 file rooms, 2 pantries and reception area.
Perfect for law office.
Term through December 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!

July 2017