Monday, April 18, 2022

One World Trade Center Office Rental Guide 2022

One World Trade Center Office Rental Guide 2022One World Trade Center Office Rental

Renting an office at One World Trade Center is a defining moment for a global business.

• A universally recognized symbol of prosperity, freedom and resilience

• An ultra-modern urban design with rich corporate amenities and best-in-class technology, efficiency and safety  

• Excellent value for your rental dollars 

• Direct in-building access to the new Fulton Street Station transportation complex and luxury shops at the Westfield  World Trade Center. The architectural focal point of this underground city is the Oculus

One World Trade Center Office Rental• High quality neighborhood restaurants, hotels and services. Link follows:  Downtown Alliance.

• Professional on-site ownership and management

 

Tenant Community 

One World Trade Center describes itself as “Home to New York City’s largest TAMI (technology, advertising, media information) tenant community”. However, all business categories are represented and the largest Tenant is Conde Nast publishing. Innovative companies that have recently leased offices at One World Trade Center are shown below.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ultra-Modern Office Building

One World Trade Center is a center core office building which means that the elevators, stairs and mechanical systems are in the middle of each floor. As a result all spaces are column free and have spectacular light and views. 

At One World Trade Center most work spaces are designed as wide-open collaborative work environments. However, tradition layouts with perimeter glass fronted offices and conference rooms are both efficient and impressive.

Three Different Leasing Programs are Offered:

One World Trade Center Office Rental#1: Pre-built move-in ready office space with elegant finishes.

#2: Unfinished/white box space that the Landlord will custom build to your design specifications.

#3: Unfinished/white box space that you can build on your own utilizing money (the “cash contribution”) and time (the “rent abatement”) provided by the Landlord.

 

 

One World Trade Center Office Rental in 2022

Shown below are sample offices. Unless specified otherwise, furniture is not included and is displayed for space planning purposes only. Offices measuring less than 5,000 rentable square feet are in high demand and rent very quickly. Contact Cogent Realty for current space availability and pricing: (212) 509-4049.

 

One World Trade Center Office Rental

4,719 RSF. Pre-built Office.

One World Trade Center Office Rental

5,329 RSF. Pre-built Office.

 

 

 

 

 

 

 

 

 

 

One World Trade Center Office Rental

7,945 RSF. Pre-built Office.

One World Trade Center Office Rental

8,590 RSF. Pre-built Office.

 

 

 

 

 

 

 

 

 

One World Trade Center Office Rental

9,499 RSF, Pre-built Move-In Ready Office. Includes furniture, wiring and lighting.

One World Trade Center Office Rental

12,456 RSF. Pre-built Move-In Ready Office. Includes furniture, wiring and lighting. VIRTUAL TOUR.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

One World Trade Center Office Rental

11,033 RSF. Raw space. Landlord will build-to-suit.

 

 

 

 

 

 

 

 

 

 

 

One World Trade Center Office Rental

40,144 RSF. Raw space. Suggested layout. Landlord will build-to-suit.

One World Trade Center Office Rental- Direct Leases 

As a result of the impact of the pandemic on the office market, more flexible lease terms are being offered. Asking rents are from $73.00 to $85.00 per rentable square foot (PSF) depending on the floor and view.

For example, the 4,719 RSF office shown above has an asking rent of $73.00 per rentable square foot. $73.00 X 4,719 RSF = $344,487 per year or $28,707 per month. Cogent Realty has a solid track record negotiating lower rents and other leasing incentives for its clients. Additional office overhead costs include electricity, annual rent and real estate tax increases. Municipal Incentives may be available to reduce your occupancy cost. 

 

Sublease Office Rental Pricing

A Sublease can offer a discounted rent for pre-built office space, and frequently furniture, fixtures and office equipment is included. Here is a link to our blog Sublease Rewards and Sublease Risks.  

As of April 2022 there was 428,636 RSF of Sublease office space for rent at One World Trade Center. Most of this space is found on full floors of approximately 48,000 RSF leased by Conde Nast. Call for updates: (212) 509-4049.

 

Your Corporate HQ at One World Trade Center 

One World Trade Center Office Rental

Lobby

• Class A ultra-modern office building built in 2014

• 1,776 feet tall, the highest in the Western hemisphere

• 3,038,168 RSF total building area with 40,000 RSF floors and 104 floors

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

• 71 fast passenger elevators and 12 escalators

• LEED Gold certification

• Owned and managed by Durst Corporation and the Port Authority of NY/NJ

• Alternate address: 285 Fulton Street, New York, NY 10007

 

Introducing One World Commons
one-world-trade-center-office-rental

Located on the 64th floor, One World Commons is a 25,000 square foot amenity space designed to attract, inspire and retain companies and their employees. This world-class social and business hub includes conference, meeting and event rooms, lounges, a game room and cafe. 

 

 

 

ABOUT COGENT REALTY ADVISORS 

Cogent Realty Advisors is an independent and licensed no fee Realtor with over 20 years of experience representing businesses that lease NYC office space. Our mission is to help you find the right office at the right price. For information, phone Mitchell Waldman at (212) 509-4049.

#oneworldtraderental2022

The post One World Trade Center Office Rental Guide 2022 appeared first on Rent NY Office.

Friday, April 8, 2022

NYC Office Leasing Report Q1 2022

NYC Office Leasing Report Q1 2022

NYC Office Leasing ReportNYC Office Leasing Report Q1 2022. With the waning of the Covid-19 pandemic many companies are encouraging their employees to return to the office. But NYC office occupancy still remains stubbornly low. According to Kastle Sytems, as of March 30th, NYC office occupancy was still only 36.9%. 

A Partnership for New York City poll conducted between February 17-  March 11, 2022, found that “concern about public safety, especially in the transit system, is the single biggest obstacle to mobilizing the return to work in the city’s office buildings.” 

Furthermore, the work-from-home model is preferred by many employees and it has proven to be cost-effective and reasonably productive, although less so than working at an office. In keeping with this some corporations have now made full-time work-from-home or a hybrid schedule (both home and office), a part of their employment terms.

In what is considered to a blow to office landlords, JPMorgan Chase CEO Jamie Dimon acknowledged “It’s clear that working from home will become more permanent in American business.” JPMorgan Chase is the city’s largest commercial tenant. Read the full story here: Jamie Dimon to work-from-homers: You win

 

 

 

 

 

 

Costar’s Analysis of the NYC Office Market 

NYC Office Leasing Report

Costar Group Inc. is NASDAQ: CSGP

CoStar is the world leader in commercial real estate information and has the most comprehensive database of real estate data throughout the US, Canada, UK, France, Germany, and Spain. Costar Group Inc. includes well- known brands like Loopnet, Emporis, Apartments.com, Home.com and BizBuySell.

 

 

Key Costar Manhattan Indicators:

  • Available Asking Rent/SF: $54.85*
  • Vacancy Rate:  16.4%
  • Vacant SF: 71.3 M
  • Sublet SF: 22.5 M
  • Inventory SF: 436 M
  • Existing Buildings: 1,620
  • Under Construction: 9.6 M

*Weighted average across all Manhattan office buildings.

Office Leasing Activity in NYC

Even though office usage remains about a third of pre-pandemic levels, office leasing activity has increased for five consecutive quarters from Q3 2020 through Q4 2021. Some large new leases have come from tech-oriented and financial service companies that can afford new offices that remain partially occupied. Much of the other leasing activity are renewals where Tenants received favorable terms to sign extensions.

 

One Madison, 328,000 SF.

 

 

 

 

 

 

100 Park Avenue, 236,036 SF

 

 

 

 

320 Park Avenue, 221,976 SF.

 

437 Madison Avenue, 159,594 SF.

 

Cogent Realty Advisors’ Analysis of the NYC Office Market 

♦ For the foreseeable future, office Tenants will have strong leverage when negotiating new leases and renewals.

♦ There will be fierce competition among Property Owners to secure new business and retain existing Tenants.

♦ New York City office buildings can be divided into two segments: Class A properties and “everything else”. Successful companies will take advantage of the current environment by leasing high quality office spaces in amenity-rich buildings at historically favorable terms.

♦ Class A and “in demand” properties will compete primarily by offering enhanced Tenant Incentives. These include lengthy rent concessions (the free rent period) and large cash contributions used for the construction of new offices. Modest rent discounts can be expected.

♦ Lower quality properties will compete by using hefty rent discounts.

♦ Pragmatic Landlords recognize that the office market has been disrupted and new business strategies are needed to motivate leasing. They include: (1) Upgrading building public areas; (2) Applying Covid-19 related health protocols including enhanced ventilation, air filtration, touchless entry and frequent cleaning; (3) Pre-building modern move-in ready office suites; (4) Offering flexible leases with shorter terms and opt-out clauses; (5) Delivering office space fully furnished with an internet connection; (6) Installing popular building amenities such as a conference center, quick service dining, and a fitness/wellness center; and (7) Providing a co-working facility as a service to existing Tenants and to attract new business.

♦ Office Tenants that are flexible with their lease term and space design can negotiate steep rent discounts with a Sublease.  Read our recent report: Sublease Risk & Rewards

 

Real Estate News

 

Adams: Remote work “draining” New York City’s economy 

 

 

Barclays: Office Demand Could Drop By 20% Amid Hybrid Work

 

 

 

PODCAST: Kastle Systems CEO Haniel Lynn On Why There Hasn’t Been A Surge In Returns To The Office Just Yet

 

 

 

 

 

 

 

New York City Office LeasingHow Class A Space Became the Champ of Manhattan’s Office Market

 

 

 

 

 

 

 

 

New York companies expect to use less office space and employ fewer people, study finds

 

 

 

 

Barclays: Office Demand Could Drop By 20% Amid Hybrid Work

 

 

 

 

Return to work: Office deals dominate 2021’s top investment sales. SL Green’s $953M Hudson Yards deal leads this year’s list.

 

 

 

NYC developers poised — but hesitant — to break ground on slew of projects

 

 

 

World’s Skinniest Skyscraper Now Towers Over Manhattan  

 

 

 

 

 

 

 

 

 

 

 

 

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.

#NewYorkCityOfficeYearEnd2021

 

The post NYC Office Leasing Report Q1 2022 appeared first on Rent NY Office.

Monday, March 14, 2022

Subleasing a Columbus Circle Office

Subleasing a Columbus Circle Office

Subleasing a Columbus Circle Office

This globe by artist Kim Brandell shows the earth’s continents suspended on steel rings representing latitude and longitude lines. The public art stands in a plaza at the base of the Trump International Hotel & Tower near Central Park

Subleasing a Columbus Circle 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:

Subleasing a Columbus Circle OfficeSubleasing a Columbus Circle Office

 

 

 

 

 

 

 

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 Columbus Circle

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

 

152 West 57th Street, Carnegie Hall Tower

Photo courtesy Costar.

Subleasing a Columbus Circle Office

 

Subleasing a Columbus Circle Office

3,397 RSF. Lease expiration 2/2027. Asking $105.

 

 

Alternative Listing:

Subleasing a Columbus Circle Office

3,263 RSF. Lease expiration 6/2024. Asking $58.

 

250 West 57th Street

Photo courtesy Costar.

Subleasing a Columbus Circle Office

7,268 RSF. Lease expiration 11/2026. Asking $35.

 

 

 

 

 

 

 

 

 

 

 

1700 Broadway 

Photo courtesy Costar.

 

Subleasing a Columbus Circle Office

5,124 RSF. Lease expiration 10/2028. Asking $55.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative Listing:

Subleasing a Columbus Circle Office

3,602 RSF. Lease expiration 12/2024. Asking $55.

 

810 Seventh Avenue 

Photo courtesy Costar.

Subleasing a Columbus Circle Office

8,747 RSF. Lease expiration 1/2025. Asking $38.

 

 

 

 

 

 

 

 

 

 

 

Alternative Listing:

Subleasing a Columbus Circle Office

8,560 RSF. Lease expiration 4/2025. Asking 55.

 

 

 

 

 

 

 

 

 

 

 

Useful Links

 

 

 

 

 

 

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.

#SubleasingColumbusCircleOffice

The post Subleasing a Columbus Circle Office appeared first on Rent NY Office.