Subleasing a Plaza District Office

Subleasing a Plaza District Office

The re-imagined 660 Fifth Avenue. 39 floors, 1,250,000 SF. Delivering 2022.

Subleasing a Plaza District Office in 2022 is comparatively less expensive than prior years due to a substantial inventory of spaces left vacant due to Covid-19.  CoStar, the world leader in commercial real estate information, reports the following statistics about the Plaza District office submarket:

 

 

 

 

 

 

 

 

 

Benefits of Subleasing an Office

1. Subleases are typically rented in a pre-built condition which can reduce the waiting time to move-in.
2. Some subleases include furniture, an IT network and phones. That’s a substantial time and cost savings.
3. The length of a sublease term may vary widely from as short as a few months (called “swing space”) to ten- years.
4. Because the transaction expenses associated with a sublease are usually less than a direct lease, the Security Deposit requirements may be reduced.

For a more information about subleases link to these Cogent Realty blogs: Sublease Risks and Rewards.

 

Sample Office Subleases in the Plaza District

Subleases of all sizes are available in locations throughout Manhattan, Brooklyn and Queens. Call Cogent Realty for information: (212) 509-4049.

 

 

777 Third Avenue

Parking garage in building.

3,992 SF. Lease expiration 11/24. Asking $65.

 

 

 

 

 

 

 

 

 

 

 

 

560 Lexington Avenue 

Photo courtesy of Costar.

5,741 SF. Lease term 3 years. Asking $70.

 

 

 

 

 

 

 

 

 

 

 

 

515 Madison Avenue 

Photo courtesy of Costar.

4,641 SF. Lease expiration 11/2025. Asking $60.

 

 

 

 

 

 

 

 

 

 

510 Madison Avenue

Elite building. Published rent $125 SF.

4,597 SF. Lease expiration 7/2024. Asking $90.

 

 

 

 

 

 

 

 

 

 

 

 

 

One Rockefeller Plaza 

Rockefeller Center Information Link

4,044 SF. Lease expiration 6/2023. Asking $65.

4,305 SF. Lease expiration 11/2024. Asking $75.

 

 

 

 

 

 

 

 

 

 

 

 

 

Useful Links

Restaurants near the Plaza Hotel

 

 

 

 

 

 

About Cogent Realty Advisors, Inc.

Cogent Realty Advisors is an independent and licensed no fee Realtor with 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.

#SubleasingPlazaDistrictOffice

The post Subleasing a Plaza District Office appeared first on Rent NY Office.

Subleasing an Office Near Grand Central

Subleasing an Office Near Grand Central

Subleasing an office near Grand Central in 2022 is comparatively inexpensive due to the large inventory of spaces left vacant due to Covid-19.  CoStar, the world leader in commercial real estate information, reports the following statistics about the Grand Central Station office submarket:

 

 

 

 

 

 

 

Benefits of Subleasing an Office

1. Subleases are typically rented in a pre-built condition which can reduce the waiting time to move-in.
2. Some subleases include furniture, an IT network and phones. That’s a substantial time and cost savings.
3. The length of a sublease term may vary widely from as short as a few months (called “swing space”) to ten- years.
4. Because the transaction expenses associated with a sublease are usually less than a direct lease, the Security Deposit requirements may be reduced.

For a more information about subleases link to these Cogent Realty blogs: Sublease Risks and Rewards.

 

Sample Subleases For Rent Near Grand Central Station

Subleases of all sizes are available in locations throughout Manhattan, Brooklyn and Queens. Call Cogent Realty for information: (212) 509-4049.

 

655 Third Avenue

4,767 SF. Lease expiration 2/25. Asking $54.

 

 

 

 

 

 

 

 

 

 

Grand Central Tower, 140 East 45th Street 

Built 1982. Renovated 2013.

4,992 SF. Lease expiration 5/23. Asking $55.

 

 

 

 

 

 

 

 

 

 

122 East 42nd Street

Art Deco design

4,791 SF, Lease expiration 4/24. Asking rent $57.

 

 

 

 

 

 

 

 

 

 

200 Park Avenue

4585 SF. Lease expiration 3/26. Asking $89.

 

 

 

 

 

 

 

 

 

295 Madison Avenue

Newly renovated lobby

2,586 SF. Lease expiration 12/23. Asking $45.

 

 

 

 

 

 

 

 

 

 

 

521 Fifth Avenue

3,750 SF. Lease expiration 8/23. Asking $35.

 

 

 

 

 

 

 

535 Fifth Avenue

Fifth Avenue views

3,695 SF. Lease expiration 8/23. Asking $55.

 

 

 

 

 

 

 

 

 

 

 

About Cogent Realty Advisors, Inc.

Cogent Realty Advisors is an independent and licensed no fee Realtor with 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.

#SubleasinganOfficeGrandCentral

The post Subleasing an Office Near Grand Central appeared first on Rent NY Office.