420 Lexington Avenue Office Rental Guide 2021

420 Lexington Avenue Office Rental Guide 2021

Lexington Avenue Entrance

420 Lexington Avenue Office Rental Guide 2021 reports why this building is an intelligent choice for NYC businesses:

Ultra- accessible location in Grand Central Terminal

Class A quality building, amenities, and technology

Large inventory of efficient pre-built offices in all sizes ready for immediate occupancy

Affordable pricing and a comparatively superior value

High density of nearby restaurants, hotels, and services.

 

 

 

 

 

 

 

Pre-built Offices Ready for Immediate Occupancy 

420 Lexington Avenue (aka the Graybar Building) offers Tenants high quality pre-built office space with efficient layouts. As a result of the building’s floor design you will find many windows in each office suite. Most suites are equipped with stainless steel pantries and Tenant-controlled air conditioning . Floor plans for a small sample of available offices follows. Call with your requirement (212) 509-4049. 

 

 

 

 

 

 

 

 

 

 

Pre-built 776 RSF

 

 

 

 

 

 

 

 

 

 

Pre-built 1,294 RSF

 

 

 

 

 

 

 

 

 

 

Pre-built 1,823 RSF

 

 

 

 

 

 

 

 

 

 

 

 

Pre-built 3,262 RSF

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-built 3,760 RSF

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-built 5,102 RSF

 

 

 

 

 

 

 

 

 

 

Pre-built 10,210 RSF

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Test Fit, 26,747 RSF

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTE: Several Graybar Building Tenants have listed their offices for Sublease. (Please link to our report Sublease Rewards and Risks.) These offices range in size from 1,000 to 10,000 RSF and include furniture, phones, and equipment. Lease term lengths vary. Asking rents are highly negotiable. Contact Cogent Realty for information: (212) 509-4049.

 

Office Rental Pricing at 420 Lexington Avenue

In 2017 the asking rents for pre-built office suites at 420 Lexington Avenue range from $62.00 to $67.00 per rentable square foot (PSF) depending on the location in the building. Offices on floors with better light and views are more expensive. In response to the slackening of demand due to Covid-19, the Landlord is offering more flexible terms and leasing incentives. Call for information: (212) 509-4049.

 

Published Rent	1,500 RSF Office	2,750 RSF Office	5,000 RSF Office
Mid Rise floors @ $62.00 PSF	$7,750 per month  $93,000 per year	$14,208 per month $170,500 per year	$25,833 per month $310,000 per year
Upper floors  @ $67.00 PSF	$8,375 per month $100,500 per year	$15,354 per month $184,250 per year	$27,916 per month $335,000 per year

Additional office overhead costs include electricity which is fixed at $3.50 PSF and annual rent and real estate tax increases.

 

Your Corporate HQ at 420 Lexington Avenue

Lobby

Class A office building constructed in 1927 and continually modernized

 1,513,673 RSF total building area with 50,042 RSF floors and 30 stories tall

24- hour, 7- day access, uniformed lobby concierge, CCTV security and turn-style access cards for Tenants

 

Visitor Center

 New Visitor Center for guest registration

32 passenger and two freight elevators

300 plus professional companies from diverse industries provide an incredible opportunity for networking

Telecom providers include Verizon, Cogent, Lightpath, Broadview Networks, Lightower and TimeWarner Cable

Wirescore Platinum and LEED Gold

Professional owned and managed by SL Green Realty Corp, NYC’s largest owner of office real estate

New York, NY 10170

 

The Grand Central Neighborhood

420 Lexington Avenue is part of Grand Central Terminal and has the 4, 5, 6, 7 and S subway lines; M101, M102, M103, M1, M2, M3, M4, Q32 and M42 buses; Metro North Railroad, and the NYC Airporter. The building provides NYC’s most convenient transportation connections to employees and clients.

Use this directory to find Grand Central Terminal (GCT) stores and restaurants. GCT has numerous shopping, fine dining and drinking options including a casual lower concourse food court. For take-out, a perennial favorite is the gourmet shops at Grand Central Market. Equinox Fitness Club is adjacent to the lobby of 420 Lexington Avenue.  The Grand Hyatt Hotel sits on top of the terminal, and there are several other hotels in close proximity. Here’s a link to popular restaurants near GCT.

About Cogent Realty Advisors, Inc.

Cogent Realty Advisors is an independent and licensed no fee Realtor with more than 20 years of experience representing businesses that lease NYC office space. We offer leasing solutions for office Tenants seeking stability and value in uncertain times. For information phone Mitchell Waldman at (212) 509-4049.

#420LexingtonAvenueOffice

The post 420 Lexington Avenue Office Rental Guide 2021 appeared first on Rent NY Office.

PENN 1 Office Building Renovation Update- 34th Street Lobby Open

PENN 1 Office Building Renovation Update- 34th Street Lobby Open

PENN 1’s new 34th Street Lobby

PENN 1, previously known as 1 Penn Plaza, has finished the first phase of a $200 million renovation with the opening of its handsome new 34th Street lobby. When fully completed the renovations will yield a contemporary corporate environment and Tenant amenities that rival the new Hudson Yard office buildings on the far west side. To its advantage, PENN 1 is the only New York City building with direct vertical access to Penn Station, which is also undergoing a massive renovation.

 

 

 

The grand stair will connect to “WorkLife” on the 2nd and 3rd floor which is an amenity ecosystem for tenants to focus on work and self-care. Included are:

• The Landing, a full-service restaurant with private dining rooms

• Lounges for socializing and working

• WorkLife Meetings– a 20,000 square foot conferencing center

• WorkLife Office Suites– 80,000 square feet of adaptable workspace

• WorkLife Wellbeing– 35,000 square feet fitness and wellness center.

PENN 1 Office for Lease

Current asking rents at PENN 1 are $90.00 per square foot. New Tenants have a choice of three office leasing programs:

(1) Raw/unfinished space that the Landlord constructs to your specifications. Included are the services of an architect to assist with space planning.

(2) Raw/unfinished space that a Tenant constructs on its own utilizing money (the “cash contribution”) and time (the “rent abatement”) provided by the Landlord.

(3) Pre-built and previously occupied office space that the Landlord will renovate.

2,060-5,396 rentable square feet. Raw space, Landlord will Build-to-Suit

5,759- 16,779 rentable square feet. Raw space, Landlord will Build-to-Suit.

37,856 rentable square feet. Raw space, Landlord will Build-to-Suit.

NOTE: Several PENN 1 Tenants have listed their offices for Sublease. (Please link to our report Sublease Rewards and Risks.) These offices range in size from 5,000 to 20,000 RSF and include furniture, phones, and equipment. Terms vary from 2- 5 years. Asking rents are highly negotiable. Contact Cogent Realty for information: (212) 509-4049.

 

 

PENN 1 – Your Corporate HQ 

• Class A office building constructed in 1972, ongoing $200 million renovation to be completed in 2021

• 2,524,000 total building with floors ranging from 37,000 to 80,000 RSF; 57 stories tall and rising 751 feet

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

• 44 passenger and two freight elevators

• Central HVAC provided Monday to Friday, 8:00 am- 6:00 pm. Overtime and supplemental AC available.

• Fully sprinklered building, emergency lighting and power

• LEED and Energy Star certified

• Conference and meeting rooms available for rent onsite through Industrious.

• Telecom providers include Verizon, Cogent, MCI/Verizon Business, Time Warner Telecom, Con Ed, AT&T, Time Warner Cable, Direct TV, Light Tower

• 695 car underground garage

• Owned and managed by Vornado (VNO), a publicly traded company

• New York, NY 10119

 

About Cogent Realty Advisors, Inc.

Cogent Realty Advisors is an independent and licensed no fee Realtor with more than 20 years of experience representing businesses that lease NYC office space. We offer leasing solutions for office Tenants seeking stability and value in uncertain times. For information phone Mitchell Waldman at (212) 509-4049.

#PENN1Office

The post PENN 1 Office Building Renovation Update- 34th Street Lobby Open appeared first on Rent NY Office.