450 Seventh Avenue Office Space, Business Rental Guide 2019/2020

450 Seventh Avenue Office Space, Business Rental Guide 2019/2020

450 Seventh Avenue Office Space is an excellent choice for New York City businesses requiring these key features:

•  Ultra-accessible location across from Penn Station

• Clean, secure and well maintained Class B office building

• Efficient office suites for small- and mid- size businesses

• Professional on-site ownership and management

• High density of nearby restaurants, hotels and services

 

 

 

Location

450 Seventh Avenue is located at the north west corner of 34th Street across from  Penn Station which has the 1, 2, 3, A, C and E subway lines; crosstown #34 bus; Long Island Railroad, New Jersey Transit and Amtrak. Port Authority Bus Terminal at Eighth Avenue and 42nd Street is a five minute walk away. 

 

Architecture & Office Design  

450 Seventh Avenue is a center core office building which means that the elevators, stairs and mechanical systems are in the middle of each floor. The building has an irregular shape which yields a high window-to-floor area ratio. As a result most office spaces enjoy excellent light and views when designed as either open collaborative work environments or with a more traditional layout including perimeter offices. 

450 Seventh Avenue offers both turn-key fully constructed office suites that are ready for immediate occupancy and raw spaces that it will build-to-suit for qualified Tenants. As a rule of thumb, when the Landlord custom-builds an office it will require a 7- 10 year lease term. Recently built suites feature high ceilings (finished or open), upgraded lighting fixtures, glass fronted offices, and contemporary pantries. All offices include a Tenant-controlled air conditioner that can provide cooling on a year-round basis.

Due to sustained strong demand the overall vacancy rate at 450 Seventh Avenue is only 5.5% as of October  2019. Notwithstanding, because the building has 100’s of Tenants there is a steady stream of offices that become available for lease on a regular basis.  A small sample of suites is shown below.

1,768 RSF. Landlord will Build-to-Suit

 

 

 

 

 

 

 

2,341 RSF. Pre-built office.

 

 

 

 

 

 

2,923 RSF. Landlord will Build-to-Suit.

 

 

 

 

 

 

 

 

5,584 RSF. Pre-built office. Furniture available.

 

 

 

 

 

 

 

 

 

7,222 RSF. Pre-built office.

 

 

 

 

 

 

 

450 Seventh Avenue Office Pricing 

In 2019/2020 the asking rent at 450 Seventh Avenue ranged from $62.00- $64.00 per rentable square foot (PSF). The pricing varies with the location of the office within the building (elevation, lighting, views) as well as the dollar value of the improvements that the Landlord is making. Note: After negotiation your contract rent will be lower.

Additional office overhead costs include annual rent and real estate tax increases and electrical usage.

 

Your Corporate HQ at 450 Seventh Avenue 

• Class B Art Deco style office building constructed in 1931.

• Lobby renovation completed 2018. A renovation of all corridors and bathrooms will be completed soon.

• 520,000 SF total building area. 16,800- 5,582 RSF floors. 46 stories tall and rising 560 feet.

• 24- hour, 7- day access. Uniformed lobby concierge and turn-style access cards for Tenants.

• 13 passenger and two freight elevators

• Tenant controlled air conditioning unit in each suite.

• Fully sprinklered building, emergency lighting and power.

• Telecom providers include Level 3 Communications, Lightpath, Verizon FIOS, TW Cable and Megapath.

• Diverse Tenant mix includes law, accounting, financial services, insurance, technology and fashion

• Onsite stores include Citibank, Walgreen’s, Starbucks and AT&T

• New York, NY 10001

 

The Neighborhood Around 450 Seventh Avenue 

World famous Macy’s department store is across the street.  For 25 nearby restaurants link HERE. For Trip Advisor’s Top Ten Hotels near Penn Station link HERE.

 

 

About Cogent Realty Advisors

You will save valuable time, energy and money by using Cogent Realty to negotiate your lease. Cogent Realty is an independent and licensed NO FEE Tenant Representation Broker with over 20 years of experience representing NYC businesses. Cogent maintains an extensive Building and Landlord database as well as current “closed deal” contract information. We will find you the right space at the right price. Phone: (212) 509-4049.

#450SeventhAveOffice

 

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Tech Sector Needs More Offices in New York

Tech Sector Needs More Offices in New York

Contemporary Office at 370 Lexington Avenue

New York’s technology sector now rivals that of Silicon Valley. The demand for cool office space has been met in creative ways. Previously staid building have spent heavily and installed modern lobbies, state-of-art infrastructure, expansive technology backbones and Tenant amenity spaces. Older conventional offices have been gutted and are now delivered with open ceilings, glass walls, polished concrete floors and stainless steel pantries.

 

 

 

 

Currently Operating Tech Centers  

 

The COMPANY BUILDING at 335 Madison Avenue, NYC

 

Lobby at the Company Building

Located steps from Grand Central Station, the 1 million square foot 335 Madison Avenue has been transformed into an Urban Tech Space. “Company is the first of its kind—a seamless integration of technology, hospitality, and purpose-built space.”

 

 

 

 

 

 

 

CORNELL TECH CAMPUS at 1 Main Street, Roosevelt Island

 

Tata Innovation Center

This $2 billion campus on Roosevelt Island in the East River offers a mix of academic and office buildings, residences and a hotel. Cornell will share “The Tata Innovation Center”, a 230,000 square foot building, with independent tech companies, venture capitalists and a full floor co-working space.

 

 

 

 

 

 

 

Tech Centers of the Future

 

NYC TECH HUB at 124 East 14th Street, NYC

 

Rendering of NYC Tech Hub

This $200 million project is a joint venture between RAL Development Services and NYC’s Economic Development Corporation. It will include a tech-focused training center and incubator, office space and a multi-vendor food hall.

 

 

 

 

 

 

 

 

West Chelsea Tech Center at Morgan North Postal Facility, 341 Ninth Avenue, NYC

 

Rendering of roof-top garden

Tishman Speyer is redeveloping 630,00o square feet of offices for tech users on the top floors of the 10- story postal facility. Construction will begin in 2020 and conclude in mid- 2022. The project targets large tech companies that can fill floors ranging in size from 48 to 200,000 square feet. A 2.5 acre roof-top garden is planned.

 

 

 

 

 

 

 

 

 

Corporate Occupied Tech Hubs

 

 

Google Campus, Hudson Square, NYC

 

Google’s HQ at 111 Eighth Avenue

Alphabet Inc., the parent company of Google, is spending $1 billion on a sprawling campus in Hudson Square. It will include 315 and 345 Hudson Street and 550 Washington Street. This is in addition to the Chelsea Market Building (75 Ninth Avenue) which was purchased for 2.4 billion in 2018.

 

 

 

 

 

Microsoft Research Center, 300 Lafayette Street, NYC 

 

Construction at 300 Lafayette Street

Microsoft is leasing a 63,000 square foot office in a newly constructed building at the corner of Lafayette and East Houston Street. It is collaborative space occupied by researchers, engineers and developers.

 

 

 

 

 

 

Office Eye- Candy 

Crain’s New York Business assembled a list of the coolest offices that made their debut in 2019.

 

View pictures of Crain’s coolest offices by linking HERE

About Cogent Realty Advisors

You will save valuable time, energy and money by using Cogent Realty to negotiate your lease. Cogent Realty is an independent and licensed NO FEE Tenant Representation Broker with over 20 years of experience representing NYC businesses. Cogent maintains an extensive Building and Landlord database as well as current “closed deal” contract information. We will find you the right space at the right price. Phone: (212) 509-4049.

#TechOffice

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