office space Midtown

Your Midtown office space guide by Search Office Space

A Midtown Office Space Guide

A veritable cornucopia of all aspects of city life, be it culture, food, or business opportunities, Midtown Manhattan boasts the world's largest central business district and is home to some of the finest commercial real estate. Roughly spanning the areas from 31st Street to 59th, in between Third and Ninth Avenues, Central Midtown Manhattan attracts approximately 700,000 to 750,000 commuters every day.

Notable attractions of the Midtown Manhattan neighborhood include the Empire State Building, the Chrysler Building, Trump Tower, the Time Warner Center, the James A. Farley Postal Office, and St. Patrick's Cathedral, which are some of the city's tallest skyscrapers. Flagship stores of retailers such as Macy's, Tiffany and Co., Bergdorf Goodman, Brooks Brothers, Lord and Taylor, and Saks Fifth Avenue are also housed in Midtown. Other hubs of activity and popular sites for tourists and those seeking entertainment and culture include the Museum of Modern Art, Grand Central Station, Madison Square Garden, Carnegie Hall, Times Square, and the Manhattan Center.

In regards to commercial real estate, Midtown Manhattan is the premier location for leasing office space. Its prime location next to some of the world's largest businesses and its proximity to public transportation make it the most desirable address in New York City for those wishing to lease downtown offices. Midtown Manhattan boasts roughly 45 million square feet of commercial real estate alone, with options available for every kind of business and budget. Class C office suites and lofts can be rented for as low as $29 per square foot in the Garment District, with prices steadily increasing towards northern locations. The Chelsea District in Midtown South is also an affordable area with prices from $32 per square foot, as opposed to $45-$60 per square foot for Class B space and $60-$80 per square foot for Class A space in Central Manhattan.

Midtown Manhattan is also convenient to numerous well-known and reputable business center operators. Some of the top office providers in the area include Penn Plaza, Avenue of the Americas, Broadway, and the Empire State Building, all of which are fully equipped and furnished business centers in the heart of Midtown. Although there are several options for leasing an executive office suites, factors such as location, availability, and pricing will ultimately determine the kind of office space required for a leasing decision.

Future endeavors by the city may affect this location even more as plans for at least two more office buildings are in effect. The World Product Centre, a 60-story office building with a projected cost of more than $1 billion is set for construction from November 2009 until year 2013. Another $750 million building is set to rise in the Diamond District, although details for this project, as of yet, are vague.

Regardless of upcoming tower projects, Midtown Manhattan will continue to serve as the world's largest central business district and with leasing availability and options on the rise, will continue to dominate as the premier location for office suites in the business world today.

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