Office Space Deals May, 2017 2017-08-10T14:40:34+00:00

BEST DEALS ON NYC OFFICE SPACE
MAY, 2017

 

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

Best Deals on Office Space in New York City
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"The market can stay irrational longer than you can stay solvent."

John Maynard Keynes


People always tell us that NYC office rents are too high, they are bound to go down.  However, our experience is that is not necessarily the case. While NYC’s unemployment rate has edged down to 4% there is about 10 million rsf of new inventory hitting the market.  Accordingly, the picture is mixed, and you need an expert to help you make informed decisions regarding this important expense for your business.  Let Wharton Property Advisors show you the best options available so you can you navigate the treacherous NYC office leasing market. 
 
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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152 West 57th Street
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4,187 RSF        low-$80's/SF

Sublease from SDF Capital
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6 offices, open area, conference room, meeting room, pantry, and reception area.
Perfect for hedge fund.
Lease term through August 2025.

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623 Fifth Avenue
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14,476 RSF        $63/SF

Sublease from Arxis Capital
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10 offices, open area, 2 conference rooms, storage room, copy room, IT room, pantry, and reception area.

Perfect for private equity or hedge fund.
Lease term through August 2021.

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640 Fifth Avenue
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19,355 RSF        $68/SF

Sublease from Ell Capital
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10 windowed offices, 5 interior offices, open area, boardroom, 3 conference rooms, IT room, mail room, storage room, pantry, and reception room.
Perfect for private equity or consulting.
Lease term through March 2021.

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712 Fifth Avenue
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6,445 RSF         $125/SF

Sublease from Nima Capital.
5 offices, open area, conference room, pantry, and reception area.
Suitable for private equity or hedge fund.
Lease term through January 2022.

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510 Madison Avenue
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3,658 RSF        $120/SF

Sublease from Ravaneur Investment.
2 offices, open area, conference room, pantry, and reception area.
Ideal for hedge fund or trading desk.
Lease term through September 2019.

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515 Madison Avenue
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3,956 RSF        $67/SF
     or

3,856 RSF        $72/SF

Sublease from Ocean Media.
Two different full floor opportunities, only one will be leased

3,956 RSF consists of 6 offices, open area for 7 workstations, conference room, pantry, and reception area.
Office intensive layout works well for law firm or consulting.

3,856 RSF consists of large open area for 16 workstations, conference room, pantry, and reception area.
Open  space works well for creative uses, such as advertising or marketing.

Lease term through September 2021.


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590 Madison Avenue
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3,932 RSF        $110/SF

Sublease from Abadi & Co
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3 offices, open area, conference room, pantry, and reception area.
Ideal space for broker/dealer or hedge fund.
Lease term through September 2021.
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888 Seventh Avenue
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2,660 RSF        $80/SF

Sublease from Eisenstat Capital.
4 offices, open area, conference room pantry, and reception area.
Perfect for hedge fund or financial advisors.
Lease term through February 2021.

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150 East 58th Street
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1,756 RSF        $68/SF

Sublease from Premier Equities.
3 offices, conference room, and reception area.
Suitable for private equity or financial advisors.
Lease term through June 2022.
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501-505 Madison Avenue
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2,100 RSF        $75/SF

Sublease from MBS Value.
4 offices, open area, conference room, and reception area.
Suitable for private equity or hedge fund.
Lease term through April 2019.
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Penn Plaza/Times Square Spaces
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729 Seventh Avenue
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Private offices and cubicles available

Sublease from a prestigious foundation.
Will sublet all or part of available space.
1 windowed private offices and 7 workstations.
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 7 years.
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1114 Avenue of the Americas
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4,480 RSF        $82/SF

Sublease from Kilpatrick Townsend.
7 windowed offices, 1 internal office, open space, conference room, copy/pantry room, and reception area.
Perfect for law firm.
Lease term through September 2022.
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1410 Broadway
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2,220 RSF        $52/SF

Sublease from Global Clothing.
3 offices, 2 showrooms, pantry, and reception area.
Perfect showroom space.
Lease term through August 2020.
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1001 Avenue of the Americas
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12,017 RSF        $56/SF

Sublease from Professional Trading Solutions of Chicago.
9 offices, open area, conference room, pantry, and reception area.
Ideal for broker-dealer or TAMI tenant.

Lease term through August 2022.
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1333 Broadway
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15,910 RSF        $40/SF

Sublease from Gerber Childrenswear LLC.
17 offices, open area, conference room, pantry, and reception area.
Perfect space for fashion showroom or creative use.
Lease term through March 2020.
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Midtown South Spaces
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7 West 18th Street
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5,339 RSF                        $57/SF


Sublease from Pop2Life.
3 offices, open area, conference room, pantry, and reception area.
Ideal for TAMI tenant.
Lease term through July 2019.
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12 West 27th Street
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5,458 RSF                        $60/SF


Sublease from Allied Works Architecture.
Open plan, seating for 20+.
Suitable for architecture firm or other creative use.
Lease term through June 2020.
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636 Broadway
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10,000 RSF                        $62/SF


Sublease from Maker Studios.
4-5 offices or break out rooms, open area with bench seating, pantry, and reception area.
Suitable for tech firm or creative use.
Lease term through June 2019.
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625 Avenue of the Americas
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35,156 RSF                  $65/SF


Sublease from Pivotal Labs.

13 offices, open area for 300 +, 2 board rooms, 6 conference rooms, pantry, lounge, and reception area.
Ideal TAMI layout.
Lease term through July 2023.
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245 Fifth Avenue
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13,627 RSF                  $68/SF


Sublease from TrustPilot.
4 phone booths, open area with seating for 90+, board room, meeting room, large pantry, and reception area.
High density TAMI installation.
Lease term through June 2020.

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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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60 East 42nd Street
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3,866 RSF        $50/SF

Sublease from Novozymes North America Ltd.
7 windowed offices, open area, conference room, pantry, and reception area.
Suitable for law firm, accounting or financial firm.
Term through May 2022.

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140 East 45th Street
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11,550 RSF        $60/SF

Sublease from Paul Capital.
16 offices, open area, 2 conference rooms, pantry, and reception area.
Suitable for law firm or hedge fund.
Term through December 2022.

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461 Fifth Avenue
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11,232 RSF        $64/SF

Sublease from US Bank.
12 offices, open area, 2 conference room, pantry, and reception area.
Suitable for law firm or finance.
Term through October 2021.

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545 Fifth Avenue
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2,179 RSF        $55/SF

Sublease from Forsyth of Canada.
3 offices, 2 showrooms/conference rooms/work areas, pantry, and reception area.
Perfect for showroom or fashion use.
Term through September 2020.
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420 Lexington Avenue
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2,299 RSF        $55/SF

Sublease from PTC.
4 offices, conference room, pantry, and reception area.
Perfect for law firm.
Term through May 2019.
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Downtown / Financial District Spaces
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11 Hanover Street
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3,832 RSF        $38/SF

Sublease from Farago Design.
2 offices, open area, conference room, pantry, and reception area.
Perfect for tech firm or trading desk.
Term through March 2023.
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60 Broad Street
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12,860 RSF        $43/SF

Sublease from WQIS.
6 offices, open area, board room, meeting room, pantry, and reception area.
Perfect for marketing, advertising or any creative use.
Term through September 2020.
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125 Broad Street
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18,245 RSF        $49/SF

Sublease from GenRe Insurance.
3 offices, open area with 56 workstations, 4 conference rooms, pantry, and reception area.
Perfect for insurance, tech firm, or new media.
Term through March 2033.
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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!

May 2017